Empowered Funds LLC Grows Stake in FONAR Co. (NASDAQ:FONR)

Empowered Funds LLC grew its stake in shares of FONAR Co. (NASDAQ:FONR) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,635 shares of the medical equipment provider’s stock after acquiring an additional 945 shares during the quarter. Empowered Funds LLC owned about 0.31% of FONAR worth $297,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Money Concepts Capital Corp increased its stake in FONAR by 5.9% during the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock valued at $6,080,000 after purchasing an additional 22,245 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of FONAR by 148.3% during the third quarter. JPMorgan Chase & Co. now owns 3,012 shares of the medical equipment provider’s stock valued at $49,000 after buying an additional 1,799 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of FONAR by 15.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock valued at $443,000 after acquiring an additional 3,837 shares in the last quarter. Finally, Corsair Capital Management L.P. raised its holdings in 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 worth $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 Upgrades and Downgrades

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

FONAR Stock Performance

NASDAQ FONR opened at $14.80 on Friday. The company has a market capitalization of $93.68 million, a price-to-earnings ratio of 10.57 and a beta of 1.23. The stock has a 50-day moving average of $15.47 and a 200 day moving average of $15.95. FONAR Co. has a one year low of $14.05 and a one year high of $23.41.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share for the quarter. FONAR had a net margin of 9.41% and a return on equity of 6.10%. The firm had revenue of $24.95 million during the quarter.

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.