FONAR Co. (NASDAQ:FONR) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of FONAR Co. (NASDAQ:FONR) by 148.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,012 shares of the medical equipment provider’s stock after purchasing an additional 1,799 shares during the quarter. JPMorgan Chase & Co.’s holdings in FONAR were worth $49,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Advisors LLC increased its holdings in FONAR by 21.2% in the 3rd quarter. Inspire Advisors LLC now owns 34,342 shares of the medical equipment provider’s stock worth $556,000 after buying an additional 5,998 shares during the period. Empowered Funds LLC boosted its holdings 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 valued at $303,000 after acquiring an additional 938 shares during the last quarter. Finally, Corsair Capital Management L.P. boosted its holdings in shares of FONAR by 8.8% in 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 last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Analyst Ratings Changes

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

FONAR Price Performance

Shares of FONR stock opened at $15.66 on Wednesday. FONAR Co. has a 1-year low of $14.05 and a 1-year high of $24.05. The company has a market cap of $99.13 million, a price-to-earnings ratio of 11.19 and a beta of 1.23. The stock has a 50 day simple moving average of $15.50 and a 200-day simple moving average of $16.13.

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

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.