Denali Advisors LLC Acquires 2,700 Shares of FONAR Co. (NASDAQ:FONR)

Denali Advisors LLC lifted its holdings in FONAR Co. (NASDAQ:FONR) by 20.1% during the first quarter, HoldingsChannel.com reports. The firm owned 16,100 shares of the medical equipment provider’s stock after purchasing an additional 2,700 shares during the period. Denali Advisors LLC’s holdings in FONAR were worth $344,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FONR. Acuitas Investments LLC acquired a new stake in shares of FONAR in the fourth quarter valued at about $4,277,000. Hillsdale Investment Management Inc. acquired a new position in shares of FONAR during the 4th quarter worth about $1,201,000. Carmel Capital Partners LLC raised its holdings in shares of FONAR by 725.1% in the 4th 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 during the period. Finally, Marquette Asset Management LLC acquired a new stake in FONAR in the 4th quarter valued at about $168,000. Institutional investors and hedge funds own 50.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded FONAR from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 25th.

FONAR Trading Up 1.0 %

FONR stock opened at $16.06 on Thursday. The business’s 50 day simple moving average is $15.78 and its 200 day simple moving average is $18.73. FONAR Co. has a 1-year low of $12.13 and a 1-year high of $24.05. The firm has a market capitalization of $101.63 million, a PE ratio of 10.29 and a beta of 1.19.

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 firm 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%.

About FONAR

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.