Fonar Corporation (NASDAQ:FONR – Get Free Report) major shareholder Hilary Shane acquired 225,426 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average cost of $19.05 per share, for a total transaction of $4,294,365.30. Following the purchase, the insider owned 324,118 shares of the company’s stock, valued at approximately $6,174,447.90. The trade was a 228.41% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Hilary Shane also recently made the following trade(s):
- On Friday, May 29th, Hilary Shane acquired 41,913 shares of Fonar stock. The shares were bought at an average cost of $19.05 per share, for a total transaction of $798,442.65.
- On Wednesday, May 27th, Hilary Shane acquired 71,414 shares of Fonar stock. The shares were bought at an average cost of $18.99 per share, for a total transaction of $1,356,151.86.
Fonar Stock Up 0.1%
Shares of FONR traded up $0.01 during trading hours on Friday, reaching $19.10. 319,128 shares of the company traded hands, compared to its average volume of 73,222. The stock has a market capitalization of $117.85 million, a PE ratio of 19.10 and a beta of 0.96. Fonar Corporation has a fifty-two week low of $13.62 and a fifty-two week high of $19.10. The stock has a fifty day simple moving average of $18.75 and a 200 day simple moving average of $17.61.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC purchased a new stake in Fonar during the third quarter valued at about $90,000. PenderFund Capital Management Ltd. acquired a new position in shares of Fonar in the 4th quarter valued at about $150,000. Empowered Funds LLC grew its holdings in shares of Fonar by 7.7% during the 1st quarter. Empowered Funds LLC now owns 21,139 shares of the medical equipment provider’s stock worth $296,000 after purchasing an additional 1,504 shares during the period. Lakewood Asset Management LLC increased its position in Fonar by 15.1% during the 4th quarter. Lakewood Asset Management LLC now owns 19,057 shares of the medical equipment provider’s stock worth $354,000 after purchasing an additional 2,493 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Fonar during the 4th quarter worth approximately $523,000. Institutional investors and hedge funds own 50.64% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Fonar in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.
Read Our Latest Stock Analysis on Fonar
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.
Featured Stories
- Five stocks we like better than Fonar
- Shares Fall, Targets Rise—Markets and Analysts Diverge on Synopsys
- Salesforce Stock Finds Support as AI Momentum Builds
- Dollar Tree Keeps Winning After Family Dollar Divorce
- Apple’s Agentic AI Plans Could Be Its Biggest Growth Story Yet
Receive News & Ratings for Fonar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fonar and related companies with MarketBeat.com's FREE daily email newsletter.
