142,601 Shares in FONAR Co. (NASDAQ:FONR) Acquired by Peapod Lane Capital LLC

Peapod Lane Capital LLC bought a new stake in shares of FONAR Co. (NASDAQ:FONR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 142,601 shares of the medical equipment provider’s stock, valued at approximately $2,159,000. FONAR comprises 2.1% of Peapod Lane Capital LLC’s holdings, making the stock its 16th largest holding. Peapod Lane Capital LLC owned about 2.25% of FONAR as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Advisors LLC grew its holdings in shares of 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 acquiring an additional 5,998 shares during the period. Empowered Funds LLC boosted its position in FONAR by 5.3% in the third quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 938 shares during the last quarter. Corsair Capital Management L.P. grew its stake in shares of 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 purchasing an additional 2,266 shares during the period. JPMorgan Chase & Co. increased its position 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 purchasing an additional 1,799 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted 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 purchasing an additional 3,837 shares during the period. 50.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

FONAR Price Performance

NASDAQ:FONR opened at $16.20 on Thursday. FONAR Co. has a one year low of $14.05 and a one year high of $24.05. The business has a fifty day moving average price of $15.47 and a 200-day moving average price of $16.05. The firm has a market capitalization of $102.55 million, a price-to-earnings ratio of 11.57 and a beta of 1.23.

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

About FONAR

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.