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Fonar Corporation (FONR) engages in the design, manufacture, sale, and servicing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, and other medical conditions and injuries.
It operates in two segments, Medical Equipment, and Physician and Diagnostic Services Management.
The company offers Upright MRI that allows patients to be scanned in fully weight-bearing conditions, such as standing, sitting, bending, or lying down. It markets its scanners to private diagnostic imaging centers and hospitals.
The company also provides management services, administrative services, billing and collection services, office space, equipment, repair, maintenance service, and clerical and other non-medical personnel to medical providers engaged in diagnostic imaging. As of June 30, 2015, it managed 11 diagnostic imaging facilities located in New York and Florida.
Shares of this stock have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that this is a low volume stock, as always, use a LIMIT order. Never place a Market Order.
52-Weeks Trading Range: $9.10 - $22.56
Entry Point: $21.00
Stop Loss: $19.95
Target Price: $23.10
FONR closed at $23.20
