Money Concepts Capital Corp Raises Holdings in Fonar Corporation $FONR

Money Concepts Capital Corp grew its position in shares of Fonar Corporation (NASDAQ:FONR) by 5.6% in the fourth quarter, HoldingsChannel reports. The firm owned 510,672 shares of the medical equipment provider’s stock after buying an additional 27,150 shares during the quarter. Money Concepts Capital Corp owned 0.08% of Fonar worth $9,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FONR. Inspire Advisors LLC purchased a new position in shares of Fonar during the third quarter valued at about $216,000. Ritholtz Wealth Management grew its position in shares of Fonar by 66.4% during the third quarter. Ritholtz Wealth Management now owns 17,417 shares of the medical equipment provider’s stock valued at $262,000 after purchasing an additional 6,948 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Fonar during the third quarter valued at about $90,000. Dimensional Fund Advisors LP grew its position in shares of Fonar by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock valued at $5,677,000 after purchasing an additional 4,413 shares in the last quarter. Finally, Lakewood Asset Management LLC grew its position in shares of Fonar by 15.1% during the fourth quarter. Lakewood Asset Management LLC now owns 19,057 shares of the medical equipment provider’s stock valued at $354,000 after purchasing an additional 2,493 shares in the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Fonar in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Fonar Trading Down 0.1%

FONR opened at $18.84 on Tuesday. The firm has a market cap of $116.24 million, a P/E ratio of 16.67 and a beta of 0.96. Fonar Corporation has a 12 month low of $12.24 and a 12 month high of $18.95. The stock has a 50-day moving average of $18.64 and a 200 day moving average of $17.26.

Fonar (NASDAQ:FONR) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $0.24 EPS for the quarter. The company had revenue of $26.47 million during the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

About Fonar

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.