Fonar Corporation (NASDAQ:FONR – Get Free Report) major shareholder Hilary Shane bought 71,414 shares of Fonar stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of $18.99 per share, with a total value of $1,356,151.86. Following the completion of the acquisition, the insider directly owned 98,692 shares in the company, valued at $1,874,161.08. This represents a 261.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Fonar Trading Up 0.5%
Fonar stock opened at $19.01 on Thursday. The firm has a 50 day moving average of $18.73 and a 200 day moving average of $17.58. The firm has a market capitalization of $117.29 million, a price-to-earnings ratio of 19.01 and a beta of 0.96. Fonar Corporation has a 12-month low of $13.62 and a 12-month high of $19.03.
Fonar (NASDAQ:FONR – Get Free Report) last released its earnings results on Monday, May 11th. The medical equipment provider reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $26.47 million during the quarter. Fonar had a net margin of 6.35% and a return on equity of 4.12%.
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Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Groupe la Francaise bought a new position in Fonar in the 1st quarter worth approximately $2,205,000. RBF Capital LLC boosted its stake in Fonar by 18.7% in the 1st quarter. RBF Capital LLC now owns 89,534 shares of the medical equipment provider’s stock worth $1,662,000 after purchasing an additional 14,087 shares during the period. Gabelli Funds LLC bought a new position in Fonar in the 1st quarter worth approximately $1,680,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Fonar in the 1st quarter worth approximately $1,001,000. Finally, Credit Industriel ET Commercial bought a new position in Fonar in the 1st quarter worth approximately $1,470,000. 50.64% of the stock is currently owned by institutional investors.
Fonar Company Profile
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.
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