Money Concepts Capital Corp Increases Stake in FONAR Co. (NASDAQ:FONR)

Money Concepts Capital Corp raised its position in shares of FONAR Co. (NASDAQ:FONR) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 401,577 shares of the medical equipment provider’s stock after acquiring an additional 22,245 shares during the quarter. Money Concepts Capital Corp owned approximately 6.34% of FONAR worth $6,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FONR. Inspire Advisors LLC grew its stake in FONAR by 21.2% in the third quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after purchasing an additional 5,998 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of FONAR by 148.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock valued at $49,000 after buying an additional 1,799 shares in the last quarter. Empowered Funds LLC grew its position in shares of FONAR by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 938 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock worth $443,000 after acquiring an additional 3,837 shares in the last quarter. Finally, Corsair Capital Management L.P. lifted its position in FONAR by 8.8% during the 3rd quarter. Corsair Capital Management L.P. now owns 27,972 shares of the medical equipment provider’s stock valued at $453,000 after acquiring an additional 2,266 shares during the period. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of FONAR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 16th.

FONAR Stock Up 0.8 %

FONR stock opened at $15.66 on Wednesday. FONAR Co. has a twelve month low of $14.05 and a twelve month high of $24.05. The business has a 50 day moving average of $15.50 and a 200 day moving average of $16.13. The firm has a market cap of $99.13 million, a PE ratio of 11.19 and a beta of 1.23.

FONAR (NASDAQ:FONR) last announced its quarterly earnings data on Tuesday, November 12th. The medical equipment provider reported $0.46 EPS for the quarter. The company had revenue of $24.96 million for the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%.

FONAR Company Profile

FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.