Invenomic Capital Management LP Raises Stock Position in FONAR Co. (NASDAQ:FONR)

Invenomic Capital Management LP grew its holdings in FONAR Co. (NASDAQ:FONRGet Rating) by 41.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,883 shares of the medical equipment provider’s stock after purchasing an additional 22,344 shares during the quarter. Invenomic Capital Management LP owned 1.17% of FONAR worth $1,151,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in FONAR by 13.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 890,831 shares of the medical equipment provider’s stock worth $13,772,000 after purchasing an additional 102,318 shares in the last quarter. American Century Companies Inc. grew its position in shares of FONAR by 36.0% during the fourth quarter. American Century Companies Inc. now owns 18,728 shares of the medical equipment provider’s stock worth $281,000 after buying an additional 4,956 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of FONAR during the second quarter worth approximately $257,000. Hikari Tsushin Inc. acquired a new stake in FONAR in the fourth quarter valued at approximately $212,000. Finally, Denali Advisors LLC purchased a new position in FONAR in the fourth quarter worth approximately $75,000. Hedge funds and other institutional investors own 45.66% of the company’s stock.

A number of brokerages have recently weighed in on FONR. StockNews.com began coverage on shares of FONAR in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. TheStreet cut FONAR from a “b-” rating to a “c+” rating in a research note on Tuesday.

FONR stock traded down $0.41 during trading on Friday, hitting $15.75. 9,724 shares of the company’s stock were exchanged, compared to its average volume of 13,069. The business has a 50-day moving average price of $17.95 and a two-hundred day moving average price of $16.84. The company has a current ratio of 8.07, a quick ratio of 7.98 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $103.16 million, a price-to-earnings ratio of 11.38 and a beta of 0.83. FONAR Co. has a 52-week low of $14.24 and a 52-week high of $19.32.

FONAR (NASDAQ:FONRGet Rating) last issued its quarterly earnings data on Tuesday, February 15th. The medical equipment provider reported $0.57 earnings per share for the quarter. The business had revenue of $24.48 million during the quarter. FONAR had a net margin of 10.96% and a return on equity of 8.66%.

FONAR Company Profile (Get Rating)

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 through two segments, Medical Equipment segment, and Physician Management and Diagnostic services segment.

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Institutional Ownership by Quarter for FONAR (NASDAQ:FONR)

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