Key Points
- Major shareholder Hilary Shane bought 41,913 shares of Fonar at $19.05 each for a total of $798,442.65, boosting their direct ownership by 14.84% to 324,273 shares.
- Shane also made two earlier purchases this week, including 225,426 shares on May 28 and 71,414 shares on May 27, both at around $19 per share.
- Fonar recently reported quarterly EPS of $0.24 on revenue of $26.47 million, while analysts currently have a Hold consensus rating on the stock.
Fonar Corporation (NASDAQ:FONR - Get Free Report) major shareholder Hilary Shane purchased 41,913 shares of the firm's stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $19.05 per share, with a total value of $798,442.65. Following the completion of the acquisition, the insider directly owned 324,273 shares of the company's stock, valued at approximately $6,177,400.65. This trade represents a 14.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 Thursday, May 28th, Hilary Shane purchased 225,426 shares of Fonar stock. The shares were purchased at an average price of $19.05 per share, with a total value of $4,294,365.30.
- On Wednesday, May 27th, Hilary Shane purchased 71,414 shares of Fonar stock. The shares were purchased at an average price of $18.99 per share, with a total value of $1,356,151.86.
Fonar Price Performance
FONR stock opened at $19.10 on Friday. Fonar Corporation has a 52-week low of $13.62 and a 52-week high of $19.10. The company has a 50-day moving average of $18.76 and a two-hundred day moving average of $17.62. The stock has a market capitalization of $117.85 million, a price-to-earnings ratio of 19.10 and a beta of 0.96.
Fonar (NASDAQ:FONR - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $0.24 earnings per share (EPS) for the quarter. Fonar had a net margin of 6.35% and a return on equity of 4.12%. The company had revenue of $26.47 million during the quarter.
Institutional Investors Weigh In On Fonar
Several hedge funds have recently made changes to their positions in the stock. Money Concepts Capital Corp lifted its stake in shares of Fonar by 5.6% in the fourth quarter. Money Concepts Capital Corp now owns 510,672 shares of the medical equipment provider's stock valued at $9,478,000 after buying an additional 27,150 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Fonar by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 376,976 shares of the medical equipment provider's stock valued at $5,677,000 after buying an additional 4,413 shares during the period. Renaissance Technologies LLC raised its position in Fonar by 2.3% in the fourth quarter. Renaissance Technologies LLC now owns 315,716 shares of the medical equipment provider's stock worth $5,860,000 after purchasing an additional 7,100 shares in the last quarter. Groupe la Francaise acquired a new position in Fonar in the first quarter worth about $2,205,000. Finally, Gabelli Funds LLC acquired a new position in Fonar in the first quarter worth about $1,680,000. Institutional investors own 50.64% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Fonar in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Fonar has a consensus rating of "Hold".
View Our Latest Stock Analysis on FONR
Fonar Company Profile
(
Get Free Report)
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.
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