Inspire Advisors LLC Sells 20,708 Shares of FONAR Co. (NASDAQ:FONR)

Inspire Advisors LLC lowered its holdings in shares of FONAR Co. (NASDAQ:FONR) by 60.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,634 shares of the medical equipment provider’s stock after selling 20,708 shares during the period. Inspire Advisors LLC’s holdings in FONAR were worth $206,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Money Concepts Capital Corp lifted its position in shares of FONAR by 5.9% in the 4th quarter. Money Concepts Capital Corp now owns 401,577 shares of the medical equipment provider’s stock worth $6,080,000 after purchasing an additional 22,245 shares during the period. Peapod Lane Capital LLC purchased a new stake in shares of FONAR in the 4th quarter worth about $2,159,000. Linden Thomas Advisory Services LLC lifted its position in shares of FONAR by 15.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,236 shares of the medical equipment provider’s stock worth $443,000 after purchasing an additional 3,837 shares during the period. Corsair Capital Management L.P. lifted its position in shares of 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 purchasing an additional 2,266 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of FONAR by 5.1% in the 4th quarter. Empowered Funds LLC now owns 19,635 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 945 shares during the period. Hedge funds and other institutional investors own 50.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of FONAR from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 16th.

FONAR Price Performance

Shares of NASDAQ FONR opened at $13.56 on Thursday. FONAR Co. has a 1 year low of $13.27 and a 1 year high of $22.96. The stock has a market cap of $84.11 million, a P/E ratio of 11.79 and a beta of 1.27. The firm has a 50-day moving average of $15.24 and a 200 day moving average of $15.70.

FONAR (NASDAQ:FONR) last issued its quarterly earnings results on Wednesday, February 19th. The medical equipment provider reported $0.29 earnings per share (EPS) for the quarter. FONAR had a net margin of 7.68% and a return on equity of 4.94%. The company 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.