Fonar Corporation (FONR)

Over the past six months, FONAR's stock experienced several notable events. In July 2025, the stock rose following a preliminary, non-binding "take private" proposal from a group led by Timothy Damadian, which the board established a special committee to review. Also in July 2025, Robert M. Carrino was appointed as an independent director. In September 2025, the stock dipped due to lower profit and higher costs in the fiscal year 2025 financial results. In November 2025, FONAR reported its Q1 fiscal 2026 earnings, showing a slight increase in total net revenue but a decline in net income, yet the stock gained post-announcement.

Information directly detailing the demand seasonality for FONAR Corp.'s products and services is not explicitly available. Demand for MRI scanners and related services is influenced by healthcare capital expenditure cycles and technological advancements. The Physician Management and Diagnostic Services segment's demand is tied to patient scan volumes, which have shown fluctuations. The aging of MRI machines globally presents a potential long-term demand for replacements.

FONAR Corporation specializes in the design, manufacturing, sale, and servicing of MRI scanners, operating in the medical imaging industry. Its flagship product, the FONAR UPRIGHT® Multi-Position™ MRI, allows scanning patients in various weight-bearing positions, crucial for diagnosing conditions exacerbated by gravitational stress and addressing patient claustrophobia. The company operates through two segments: Medical Equipment, focusing on MRI scanner production and related services, and Physician Management and Diagnostic Services, offering management services to diagnostic imaging facilities through its subsidiary, Health Management Corporation of America (HMCA).

FONAR Corporation's primary market and operations are based in the United States, with its headquarters in Melville, New York. The company serves a global clientele of hospitals, imaging centers, and medical professionals. Its diagnostic imaging facilities, managed through HMCA, are located in New York and Florida, with HMCA managing 43 MRI scanners (25 in New York and 18 in Florida) and owning six diagnostic imaging facilities in Florida.

FONAR has a long-standing reputation as a pioneer in MRI technology, priding itself on being "The Inventor of MR Scanning™" due to Dr. Raymond V. Damadian's work. The company has maintained its reputation for quality and reliability in the healthcare sector through strategic communications. The receipt of a non-binding "take private" proposal in July 2025 reflects confidence in the company's value.

FONAR Corporation's ownership structure includes institutional, retail, and individual investors. Approximately 44.4% of the company's stock is held by institutions, while individual insiders own about 2.95%, and the general public holds around 46.8% of the shares. Major institutional owners include Kayne Anderson Rudnick Investment Management, LLC, Money Concepts International, Inc., The Vanguard Group, Inc., Dimensional Fund Advisors LP, Renaissance Technologies LLC, Peapod Lane Capital LLC, Bridgeway Capital Management, LLC, BlackRock, Inc., and State Street Global Advisors, Inc. Timothy R. Damadian holds significant voting power through his ownership of Class C common stock.