Hillsdale Investment Management Inc. Purchases 4,800 Shares of FONAR Co. (NASDAQ:FONR)

Hillsdale Investment Management Inc. grew its holdings in shares of FONAR Co. (NASDAQ:FONR) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,200 shares of the medical equipment provider’s stock after buying an additional 4,800 shares during the quarter. Hillsdale Investment Management Inc. owned 1.05% of FONAR worth $1,414,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FONR. Acuitas Investments LLC bought a new position in shares of FONAR during the fourth quarter valued at approximately $4,277,000. Empowered Funds LLC increased its holdings in FONAR by 37.6% during the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock valued at $352,000 after buying an additional 4,507 shares during the period. Denali Advisors LLC increased its holdings in shares of FONAR by 20.1% in the 1st quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 2,700 shares during the period. Carmel Capital Partners LLC boosted its position in FONAR by 725.1% during the fourth quarter. Carmel Capital Partners LLC now owns 12,088 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 10,623 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of FONAR in the 1st quarter valued at about $218,000. 50.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut FONAR from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

FONAR Stock Performance

FONR stock traded up $0.07 during midday trading on Monday, reaching $18.27. The stock had a trading volume of 28,381 shares, compared to its average volume of 20,161. The firm has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $18.45. The stock has a market cap of $115.61 million, a PE ratio of 11.63 and a beta of 1.19. FONAR Co. has a 52-week low of $12.13 and a 52-week high of $24.05.

FONAR (NASDAQ:FONR) last released its quarterly earnings data on Wednesday, May 15th. The medical equipment provider reported $0.27 EPS for the quarter. The business had revenue of $25.72 million for the quarter. FONAR had a net margin of 10.66% and a return on equity of 7.50%.

FONAR 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.