Fonar Co. (FONR) Shares Sold by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC decreased its position in shares of Fonar Co. (NASDAQ:FONR) by 21.4% during the 4th quarter, HoldingsChannel reports. The fund owned 15,594 shares of the medical equipment provider’s stock after selling 4,258 shares during the period. TIAA CREF Investment Management LLC’s holdings in Fonar were worth $380,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Fonar during the 4th quarter worth approximately $101,000. Wells Fargo & Company MN boosted its stake in shares of Fonar by 215.2% during the 4th quarter. Wells Fargo & Company MN now owns 8,489 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 5,796 shares in the last quarter. Deutsche Bank AG lifted its stake in Fonar by 167.3% in the 4th quarter. Deutsche Bank AG now owns 42,902 shares of the medical equipment provider’s stock valued at $1,043,000 after buying an additional 26,850 shares in the last quarter. Bailard Inc. purchased a new stake in Fonar in the 4th quarter valued at approximately $1,328,000. Finally, Bowling Portfolio Management LLC purchased a new stake in Fonar in the 4th quarter valued at approximately $1,440,000. 47.88% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Robert J. Janoff sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $25.73, for a total value of $25,730.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

FONR stock opened at $26.08 on Friday. Fonar Co. has a 1 year low of $20.87 and a 1 year high of $33.90. The company has a market capitalization of $193.02 million, a P/E ratio of 9.67 and a beta of 2.08.

Fonar (NASDAQ:FONR) last posted its earnings results on Monday, February 12th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter. Fonar had a return on equity of 23.26% and a net margin of 23.44%. The firm had revenue of $20.17 million for the quarter.

Separately, ValuEngine raised Fonar from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd.

Fonar Company Profile

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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Institutional Ownership by Quarter for Fonar (NASDAQ:FONR)

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