Denali Advisors LLC Buys 2,700 Shares of FONAR Co. (NASDAQ:FONR)

Denali Advisors LLC increased its stake in FONAR Co. (NASDAQ:FONR) by 20.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,100 shares of the medical equipment provider’s stock after purchasing an additional 2,700 shares during the quarter. Denali Advisors LLC owned approximately 0.25% of FONAR worth $344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of FONR. Acuitas Investments LLC bought a new stake in FONAR during the fourth quarter valued at about $4,277,000. Hillsdale Investment Management Inc. bought a new stake in FONAR during the 4th quarter valued at approximately $1,201,000. Carmel Capital Partners LLC grew its holdings in FONAR by 725.1% in the 4th quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 10,623 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new position in FONAR in the 4th quarter worth approximately $168,000. 50.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of FONAR from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 25th.

FONAR Price Performance

NASDAQ FONR opened at $16.06 on Thursday. FONAR Co. has a 52-week low of $12.13 and a 52-week high of $24.05. The firm has a market capitalization of $101.63 million, a price-to-earnings ratio of 10.29 and a beta of 1.19. The company’s fifty day moving average is $15.78 and its two-hundred day moving average is $18.73.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Wednesday, May 15th. The medical equipment provider reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $25.72 million for the quarter. FONAR had a return on equity of 7.50% and a net margin of 10.66%.

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.