Profile
Sector:
HealthcareIndustry:
Diagnostics & ResearchCountry:
United StatesIPO:
29 October 1981Website:
http://www.fonar.comNext earnings report:
14 February 2025Last dividends:
18 March 1999Next dividends:
N/APrice
after hours | Sat, 23 Nov 2024 00:16:03 GMTDividend
Analysts recommendations
Institutional Ownership
FONR Latest News
FONAR's fiscal first-quarter earnings reveals a decline in revenues and income, driven by decreased patient fees and rising costs, while MRI scan volume sees modest growth.
Total MRI scan volume at the HMCA-managed sites increased 11% to 209,327 scans for the fiscal year ending June 30, 2024 as compared to the prior year. Cash and Cash Equivalents increased 10% to $56.3 million at June 30, 2024 versus the previous fiscal year.
FONAR Corporation showed encouraging growth trends in revenues and earnings, leading to a 'Buy' rating last year. Recent technical trends suggest a potential long-term change in the stock trend, supported by strong near-term growth rates and a favorable valuation. Forward-looking fundamentals, including the adoption of SwiftMR, indicate potential for continued growth and profitability for FONR shareholders.
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 designing, manufacturing, and selling magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, other medical conditions, and injuries in the United States. It operates in two segments, Medical Equipment, and Physician Management and Diagnostic Services. The company offers Upright MRI scanner, allows patients to be scanned in weight-bearing conditions, such as standing, sitting, bending, or lying down. It also provides 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 development and implementation of practice growth and marketing strategies. In addition, the company owns and operates diagnostic imaging facilities. The company markets its scanners to private diagnostic imaging centers and hospital outpatient imaging facilities. FONAR Corporation was founded 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 was FONAR the previous earnings report?
No data
When does FONAR earnings report?
The next expected earnings date for FONAR is 14 February 2025