FONAR Co. (NASDAQ:FONR) Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its stake in FONAR Co. (NASDAQ:FONR) by 7.8% in the first quarter, according to its most recent filing with the Securities & 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 period. Hillsdale Investment Management Inc.’s holdings in FONAR were worth $1,414,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FONR. Marquette Asset Management LLC acquired a new position in shares of FONAR in the 4th quarter worth $168,000. Lakewood Asset Management LLC purchased a new position in shares of FONAR during the 1st quarter valued at $205,000. Inspire Advisors LLC bought a new position in FONAR during the first quarter valued at approximately $218,000. Carmel Capital Partners LLC raised its holdings 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 buying an additional 10,623 shares in the last quarter. Finally, Denali Advisors LLC grew its holdings in FONAR by 20.1% during the first quarter. Denali Advisors LLC now owns 16,100 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 50.64% of the company’s stock.

FONAR Price Performance

Shares of NASDAQ FONR traded up $0.07 during trading hours on Monday, hitting $18.27. 28,381 shares of the company’s stock were exchanged, compared to its average volume of 20,161. The stock has a market capitalization of $115.61 million, a price-to-earnings ratio of 11.63 and a beta of 1.19. The company’s 50-day moving average price is $15.81 and its 200-day moving average price is $18.45. FONAR Co. has a 1-year low of $12.13 and a 1-year high of $24.05.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of FONAR from a “strong-buy” rating to a “buy” rating in a report on Thursday.

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.