Vanguard Group Inc. increased its stake in Fonar Corporation (NASDAQ:FONR) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,393 shares of the medical equipment provider’s stock after acquiring an additional 22,059 shares during the period. Vanguard Group Inc. owned approximately 4.27% of Fonar worth $7,587,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Fonar by 61.6% during the second quarter. Bank of New York Mellon Corp now owns 32,274 shares of the medical equipment provider’s stock valued at $896,000 after buying an additional 12,307 shares during the period. TIAA CREF Investment Management LLC purchased a new position in shares of Fonar during the second quarter valued at approximately $727,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Fonar during the second quarter valued at approximately $297,000. Teachers Advisors LLC purchased a new position in shares of Fonar during the second quarter valued at approximately $305,000. Finally, Citigroup Inc. boosted its position in shares of Fonar by 2,598,900.0% during the second quarter. Citigroup Inc. now owns 25,990 shares of the medical equipment provider’s stock valued at $721,000 after buying an additional 25,989 shares during the period. Institutional investors and hedge funds own 44.88% of the company’s stock.
Shares of Fonar Corporation (FONR) traded down $0.95 during trading hours on Tuesday, hitting $23.60. The company’s stock had a trading volume of 38,307 shares, compared to its average volume of 42,597. Fonar Corporation has a fifty-two week low of $17.20 and a fifty-two week high of $33.90. The stock has a market capitalization of $163.75, a price-to-earnings ratio of 8.03 and a beta of 2.72.
Fonar Corporation (Fonar) is engaged in the business of designing, manufacturing, selling and servicing magnetic resonance imaging (MRI) scanners, which utilizes MRI technology for the detection and diagnosis of human disease, abnormalities, other medical conditions and injuries. The Company operates its business through two segments: Medical Equipment segment, and Physician Management and Diagnostic Services segment.
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