FONAR Co. (NASDAQ:FONR) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its stake in FONAR Co. (NASDAQ:FONR) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,690 shares of the medical equipment provider’s stock after purchasing an additional 938 shares during the quarter. Empowered Funds LLC owned approximately 0.30% of FONAR worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Inspire Advisors LLC boosted 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 last quarter. Lakewood Asset Management LLC acquired a new stake in shares of FONAR in the third quarter worth approximately $173,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of FONAR by 1.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 609,789 shares of the medical equipment provider’s stock worth $9,757,000 after purchasing an additional 7,645 shares in the last quarter. Renaissance Technologies LLC raised its stake in FONAR by 11.5% in the 2nd quarter. Renaissance Technologies LLC now owns 344,216 shares of the medical equipment provider’s stock valued at $5,507,000 after purchasing an additional 35,375 shares during the last quarter. Finally, Acuitas Investments LLC raised its stake in FONAR by 142.1% in the 2nd quarter. Acuitas Investments LLC now owns 113,400 shares of the medical equipment provider’s stock valued at $1,814,000 after purchasing an additional 66,563 shares during the last quarter. Hedge funds and other institutional investors own 50.64% of the company’s stock.

FONAR Price Performance

FONR stock opened at $16.42 on Tuesday. FONAR Co. has a 1 year low of $14.05 and a 1 year high of $24.05. The firm has a market capitalization of $103.91 million, a PE ratio of 11.79 and a beta of 1.19. The business has a 50 day simple moving average of $15.88 and a 200-day simple moving average of $16.25.

FONAR (NASDAQ:FONR) last issued its earnings results on Friday, September 27th. The medical equipment provider reported $0.13 earnings per share (EPS) for the quarter. FONAR had a return on equity of 6.10% and a net margin of 9.41%. The company had revenue of $25.94 million during the quarter.

Analysts Set New Price Targets

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

FONAR Company 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.