Money Concepts Capital Corp Buys 27,150 Shares of Fonar Corporation $FONR

Money Concepts Capital Corp increased its stake in Fonar Corporation (NASDAQ:FONR) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 510,672 shares of the medical equipment provider’s stock after purchasing an additional 27,150 shares during the quarter. Money Concepts Capital Corp owned approximately 8.24% of Fonar worth $9,478,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new position in Fonar in the 3rd quarter worth $90,000. Inspire Advisors LLC bought a new stake in Fonar during the third quarter valued at about $216,000. Ritholtz Wealth Management raised its holdings in Fonar by 66.4% during the third quarter. Ritholtz Wealth Management now owns 17,417 shares of the medical equipment provider’s stock valued at $262,000 after acquiring an additional 6,948 shares during the period. Lakewood Asset Management LLC raised its holdings in Fonar by 15.1% during the fourth quarter. Lakewood Asset Management LLC now owns 19,057 shares of the medical equipment provider’s stock valued at $354,000 after acquiring an additional 2,493 shares during the period. Finally, Empowered Funds LLC raised its holdings in Fonar by 7.7% during the first quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider’s stock valued at $296,000 after acquiring an additional 1,504 shares during the period. 50.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Fonar in a report on Tuesday, April 7th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Fonar Stock Down 0.1%

NASDAQ:FONR opened at $18.84 on Tuesday. The business’s 50-day simple moving average is $18.64 and its two-hundred day simple moving average is $17.26. The stock has a market cap of $116.24 million, a PE ratio of 16.67 and a beta of 0.96. Fonar Corporation has a 52 week low of $12.24 and a 52 week high of $18.95.

Fonar (NASDAQ:FONR) last posted its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $0.24 EPS for the quarter. The business had revenue of $26.47 million for the quarter. Fonar had a return on equity of 4.69% and a net margin of 7.13%.

About Fonar

Fonar Corporation is a medical technology company primarily engaged in the design, manufacture and sale of magnetic resonance imaging (MRI) systems. The company’s flagship product, the UPRIGHT® Multi-Position™ MRI, enables patients to be scanned in standing, seated and traditional recumbent positions, offering enhanced diagnostic capabilities for musculoskeletal, neurological and vascular conditions. In addition to MRI equipment sales, Fonar provides equipment installation, training and maintenance services to hospitals, imaging centers and private practices.

Headquartered in Melville, New York, Fonar markets its MRI systems both domestically and internationally, supported by a network of service engineers and customer support personnel.