LSV Asset Management Sells 32,249 Shares of Fonar Corporation $FONR

LSV Asset Management reduced its position in shares of Fonar Corporation (NASDAQ:FONR) by 94.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,891 shares of the medical equipment provider’s stock after selling 32,249 shares during the period. LSV Asset Management’s holdings in Fonar were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Private Wealth Group LLC bought a new stake in shares of Fonar during the third quarter worth about $90,000. Empowered Funds LLC grew its holdings in shares of Fonar by 7.7% during the first 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 last quarter. Lakewood Asset Management LLC grew its holdings in shares of Fonar by 15.1% during the fourth 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 during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Fonar by 2.3% during the second quarter. Bridgeway Capital Management LLC now owns 83,382 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Fonar by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider’s stock worth $5,677,000 after purchasing an additional 4,413 shares during the last quarter. 50.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Hilary Shane bought 71,414 shares of Fonar stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $18.99 per share, for a total transaction of $1,356,151.86. Following the completion of the acquisition, the insider directly owned 98,692 shares of the company’s stock, valued at approximately $1,874,161.08. The trade was a 261.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 7.93% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Fonar in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Fonar has an average rating of “Hold”.

Fonar Price Performance

Shares of FONR stock opened at $19.01 on Thursday. The business’s 50 day simple moving average is $18.73 and its 200 day simple moving average is $17.58. Fonar Corporation has a one year low of $13.62 and a one year high of $19.03. The stock has a market capitalization of $117.29 million, a PE ratio of 19.01 and a beta of 0.96.

Fonar (NASDAQ:FONR) last announced its earnings results on Monday, May 11th. The medical equipment provider reported $0.24 EPS for the quarter. Fonar had a return on equity of 4.12% and a net margin of 6.35%.The business had revenue of $26.47 million for the quarter.

Fonar 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.