Kayne Anderson Rudnick Investment Management LLC Acquires 7,645 Shares of FONAR Co. (NASDAQ:FONR)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in FONAR Co. (NASDAQ:FONR) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 609,789 shares of the medical equipment provider’s stock after buying an additional 7,645 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 9.64% of FONAR worth $9,757,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FONR. Inspire Advisors LLC purchased a new position in shares of FONAR during the 1st quarter worth $218,000. 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 period. Linden Thomas Advisory Services LLC grew its holdings in FONAR by 9.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 21,605 shares of the medical equipment provider’s stock valued at $346,000 after purchasing an additional 1,900 shares during the period. Empowered Funds LLC boosted its position in shares of FONAR by 37.6% in the first quarter. Empowered Funds LLC now owns 16,492 shares of the medical equipment provider’s stock worth $352,000 after purchasing an additional 4,507 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of FONAR by 38.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 32,978 shares of the medical equipment provider’s stock worth $704,000 after purchasing an additional 9,237 shares in the last quarter. 50.64% of the stock is currently owned by institutional investors.

FONAR Trading Up 0.9 %

NASDAQ FONR opened at $17.55 on Monday. FONAR Co. has a 12 month low of $12.13 and a 12 month high of $24.05. The stock’s 50 day moving average is $17.28 and its 200 day moving average is $17.36. The stock has a market cap of $111.06 million, a PE ratio of 11.25 and a beta of 1.19.

Analysts Set New Price Targets

Separately, StockNews.com lowered FONAR from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 17th.

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.