Inspire Advisors LLC Reduces Stock Position in FONAR Co. (NASDAQ:FONR)

Inspire Advisors LLC reduced its holdings in shares of FONAR Co. (NASDAQ:FONR) by 60.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,634 shares of the medical equipment provider’s stock after selling 20,708 shares during the quarter. Inspire Advisors LLC owned about 0.22% of FONAR worth $206,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FONR. Empowered Funds LLC lifted its stake in shares of FONAR by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 18,690 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 938 shares in the last quarter. Corsair Capital Management L.P. increased its holdings 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 worth $453,000 after acquiring an additional 2,266 shares during the period. JPMorgan Chase & Co. increased its holdings in FONAR by 148.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock worth $49,000 after acquiring an additional 1,799 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in FONAR by 15.1% during 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 during the period. Finally, Money Concepts Capital Corp increased its holdings in FONAR by 5.9% during the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock worth $6,080,000 after acquiring an additional 22,245 shares during the period. 50.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

FONAR Trading Up 2.2 %

FONAR stock opened at $13.56 on Thursday. The firm’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $15.70. The firm has a market capitalization of $84.11 million, a PE ratio of 11.79 and a beta of 1.27. FONAR Co. has a 1-year low of $13.27 and a 1-year high of $22.96.

FONAR (NASDAQ:FONR) last posted its earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. The business had revenue of $24.95 million for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%.

FONAR 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.