FONAR, the Inventor of MR Scanning™, is located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ Imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often detects patient problems that other MRI scanners cannot because they are lie-down and 'weightless' only scanners. The patient-friendly UPRIGHT® MRI has a near-zero patient claustrophobic rejection rate. As a FONAR customer states, 'If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot.' Approximately 85% of patients are scanned sitting while watching TV.
Company profile
Ticker
FONR
Exchange
Website
CEO
Timothy R. Damadian
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Medtronic • Varian Medical Systems • Conmed • Integer • Masimo • Natus Medical • LivaNova • Outset Medical • Cutera • Inmode ...
SEC CIK
Corporate docs
Subsidiaries
Imperial Management Services, LLC • Health Diagnostic Management, LLC • Health Management Corporation • Fair Haven Services, Inc. • HMCM, Inc. • Raymond V. Damadian, M.D. MR Scanning Center Management Company • Dynamic Services, Inc. • Central Health Care Management Company, Inc. ...
IRS number
112464137
FONR stock data
Latest filings (excl ownership)
8-K
Other Events
1 Dec 22
8-K
Fonar Announces First Fiscal Quarter Earnings
15 Nov 22
10-Q
2023 Q1
Quarterly report
14 Nov 22
8-K
Fonar Announces Fiscal 2022 Financial Results
29 Sep 22
10-K
2022 FY
Annual report
28 Sep 22
8-K
Departure of Directors or Certain Officers
10 Aug 22
8-K
Submission of Matters to a Vote of Security Holders
24 May 22
8-K
Fonar Announces 3RD Quarter and Nine-month Period Financial Results for Fiscal 2022
16 May 22
10-Q
2022 Q3
Quarterly report
16 May 22
DEF 14A
Definitive proxy
8 Apr 22
Latest ownership filings
4
Luciano B Bonanni
3 Oct 22
4
Timothy Raymond Damadian
3 Oct 22
SC 13G/A
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
14 Feb 22
SC 13G/A
RENAISSANCE TECHNOLOGIES LLC
11 Feb 22
SC 13G/A
VANGUARD GROUP INC
10 Feb 22
SC 13G/A
DIMENSIONAL FUND ADVISORS LP
8 Feb 22
SC 13G/A
BlackRock Inc.
12 Jul 21
SC 13G/A
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
16 Feb 21
SC 13G/A
DIMENSIONAL FUND ADVISORS LP
12 Feb 21
SC 13G/A
RENAISSANCE TECHNOLOGIES LLC
11 Feb 21
Financial summary
| Quarter (USD) | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
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| Annual (USD) | Jun 22 | Jun 21 | Jun 20 | Jun 19 | |
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| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 48.70 mm | 48.70 mm | 48.70 mm | 48.70 mm | 48.70 mm | 48.70 mm |
| Cash burn (monthly) | 9.00 k | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 37.16 k | n/a | n/a | n/a | n/a | n/a |
| Cash remaining | 48.66 mm | n/a | n/a | n/a | n/a | n/a |
| Runway (months of cash) | 5406.5 | n/a | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2022
44.6% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 39 |
| Opened positions | 0 |
| Closed positions | 5 |
| Increased positions | 11 |
| Reduced positions | 10 |
| 13F shares | Current |
|---|---|
| Total value | 42.82 mm |
| Total shares | 2.92 mm |
| Total puts | 0.00 |
| Total calls | 0.00 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Kayne Anderson Rudnick Investment Management | 703.80 k | $9.96 mm |
| Dimensional Fund Advisors | 388.22 k | $5.49 mm |
| Renaissance Technologies | 345.62 k | $4.89 mm |
| Vanguard | 274.77 k | $3.89 mm |
| LSV Asset Management | 151.15 k | $2.14 mm |
| Money Concepts Capital | 144.59 k | $2.05 mm |
| Invenomic Capital Management | 135.14 k | $1.91 mm |
| BLK Blackrock | 97.32 k | $1.38 mm |
| Brandywine Global Investment Management | 85.80 k | $1.21 mm |
| Hillsdale Investment Management | 80.84 k | $1.14 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 22 | Timothy Raymond Damadian | FONAR CORPORATION COMMON STOCK | Buy | Acquire P | No | No | 14.15 | 2,200 | 31.13 k | 42,700 |
| 30 Sep 22 | Luciano B Bonanni | FONAR CORPORATION COMMON STOCK | Buy | Acquire P | No | No | 14.16 | 3,400 | 48.14 k | 54,253 |
| 29 Sep 22 | Timothy Raymond Damadian | FONAR CORPORATION COMMON STOCK | Buy | Acquire P | No | No | 13.63 | 2,500 | 34.08 k | 40,500 |
| 29 Sep 22 | Luciano B Bonanni | FONAR CORPORATION COMMON STOCK | Buy | Acquire P | No | No | 13.82 | 1,300 | 17.97 k | 50,853 |