Profile
Sector:
HealthcareIndustry:
Diagnostics & ResearchCountry:
United StatesIPO:
29 October 1981Website:
http://www.fonar.comNext earnings report:
27 September 2024Last dividends:
18 March 1999Next dividends:
N/APrice
regular market | Fri, 28 Jun 2024 13:30:00 GMTDividend
Analysts recommendations
Institutional Ownership
FONR Latest News
Discover why Zacks rates FONAR Corporation as "Outperform", being the first on Wall Street to initiate coverage on the stock. Explore FONR's strategic expansion, financial health and market positioning for growth in the MRI diagnostic services space.
The company specializes in overseeing diagnostic imaging centers, and it experiences steady and consistent revenue growth with decent profit margins. I believe that the second quarter results of fiscal year 2024 were impressive, with a 4.7% increase in revenues to $25.4 million and a 68.4% rise in attributable net income to $3.8 million. Fonar's market capitalization has dropped by more than 20% in the last month, presenting a favorable chance for investment.
FONAR Corporation's shares have declined 8.2% since I last wrote about it, while the S&P 500 gained 10.9%. The company's recent financial results show flatlined revenue and increased costs. Despite the weak performance, FONAR has a strong capital structure and the shares are objectively cheap, making it a potentially good investment. Patience is required in my view.
What type of business is FONAR?
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. It provides Upright MRI scanner that allows patients to be scanned in weight-bearing conditions, such as standing, sitting, bending, or lying down. The company offers non-medical management, including administrative services, billing and collection services, credentialing services, contract negotiations, compliance consulting, purchasing IT services, hiring, conducting interviews, training, supervision and management of non-medical personnel, storage of medical records, office space, equipment, repair maintenance services, accounting, assistance with compliance matters and the development and implementation of practice growth and marketing strategies. The company owns and operates 5 diagnostic imaging facilities in Florida; and manages 39 MRI scanning facilities, including 25 facilities located in New York and 14 situated in Florida. It markets its scanners to private diagnostic imaging centers and hospitals. The company was incorporated in 1978 and is based in Melville, New York.
What sector is FONAR in?
FONAR is in the Healthcare sector
What industry is FONAR in?
FONAR is in the Diagnostics & Research industry
What country is FONAR from?
FONAR is headquartered in United States
When did FONAR go public?
FONAR initial public offering (IPO) was on 29 October 1981
What is FONAR website?
https://www.fonar.com
Is FONAR in the S&P 500?
No, FONAR is not included in the S&P 500 index
Is FONAR in the NASDAQ 100?
No, FONAR is not included in the NASDAQ 100 index
Is FONAR in the Dow Jones?
No, FONAR is not included in the Dow Jones index
When does FONAR report earnings?
The next expected earnings date for FONAR is 27 September 2024