Money Concepts Capital Corp Increases Stake in FONAR Co. (NASDAQ:FONR)

Money Concepts Capital Corp raised its holdings in shares of FONAR Co. (NASDAQ:FONR - Free Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 401,577 shares of the medical equipment provider's stock after acquiring an additional 22,245 shares during the quarter. Money Concepts Capital Corp owned approximately 6.34% of FONAR worth $6,080,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Linden Thomas Advisory Services LLC lifted its holdings in FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider's stock worth $443,000 after purchasing an additional 3,837 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of FONAR by 148.3% in the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider's stock worth $49,000 after buying an additional 1,799 shares in the last quarter. Corsair Capital Management L.P. boosted its position in shares of FONAR by 8.8% during the third 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 last quarter. Empowered Funds LLC grew its stake in FONAR by 5.3% during the third 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 in the last quarter. Finally, 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 valued at $556,000 after acquiring an additional 5,998 shares during the last quarter. Institutional investors own 50.64% of the company's stock.

FONAR Stock Down 2.6 %

NASDAQ FONR traded down $0.42 during trading on Friday, hitting $15.60. 16,650 shares of the stock traded hands, compared to its average volume of 12,634. FONAR Co. has a 12-month low of $14.05 and a 12-month high of $24.05. The firm has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $16.11. The company has a market capitalization of $98.75 million, a P/E ratio of 11.14 and a beta of 1.23.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of FONAR from a "strong-buy" rating to a "buy" rating in a 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.