Insider Selling: Fonar Co. (FONR) Treasurer Sells 900 Shares of Stock

Fonar Co. (NASDAQ:FONR) Treasurer Raymond V. Damadian sold 900 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $24.68, for a total transaction of $22,212.00. Following the completion of the transaction, the treasurer now owns 121,852 shares of the company’s stock, valued at $3,007,307.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

NASDAQ FONR traded up $0.15 on Thursday, hitting $24.90. The company’s stock had a trading volume of 35,200 shares, compared to its average volume of 28,688. Fonar Co. has a 1-year low of $21.10 and a 1-year high of $33.90. The stock has a market cap of $157.35 million, a P/E ratio of 7.76 and a beta of 2.17.

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its position in Fonar by 196.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,301 shares of the medical equipment provider’s stock valued at $157,000 after acquiring an additional 3,515 shares during the period. Hikari Tsushin Inc. bought a new stake in shares of Fonar in the 1st quarter valued at $211,000. Citigroup Inc. boosted its stake in shares of Fonar by 164.5% in the 1st quarter. Citigroup Inc. now owns 7,523 shares of the medical equipment provider’s stock valued at $224,000 after purchasing an additional 4,679 shares during the last quarter. Spark Investment Management LLC boosted its stake in shares of Fonar by 16.9% in the 2nd quarter. Spark Investment Management LLC now owns 20,800 shares of the medical equipment provider’s stock valued at $552,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Mackay Shields LLC boosted its stake in shares of Fonar by 15.4% in the 2nd quarter. Mackay Shields LLC now owns 21,000 shares of the medical equipment provider’s stock valued at $558,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 52.67% of the company’s stock.

About Fonar

Fonar Corporation, together with its subsidiaries, engages in the design, manufacture, sale, and servicing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, and other medical conditions and injuries. It operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services.

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