Reading FONR? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track FONR free→Reading FONR? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track FONR free→NASDAQHealth CareDiagnostics & ResearchSnapshot 2026-06-12
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is strong, but management's recent track record has been unsteady, with frequent disruptive corporate changes. Earnings quality is mixed, and risk is elevated, while the sector backdrop is a headwind. Peer multiples imply a price about 43% above where it trades (it looks cheap on this basis); the read is cheap, quality intact. The outlook hinges on guidance changes and sector trends, particularly the performance of major Healthcare bellwethers. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 4 valuation methods, at three horizons. Current price $19.09. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $19 FONR trades at 18× p/e, below its 27× p/e peer median. Our $35 fair value sits above the price; high confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 45% below a flat-multiple fair value, below our forecast of about 1%. This describes what's priced in, not a forecast of the move.
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 59% of the time over the next year (vs 52% for the rest of the cohort, n=2344).
Over the trailing year it converted 1.45x of net income into operating cash flow. Historically, Health Care names rated neutral grew net income 54% of the time over the next year (vs 50% for the rest of the cohort, n=2269).
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
6 material management or governance events in the past 24 months, led by M&A activity. Historically, Health Care names rated volatile grew net income 43% of the time over the next year (vs 57% for the rest of the cohort, n=600).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$11.
How much price usually moves either way.
On a bad day, this stock has moved -$178.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $1,398.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
No named catalysts to watch right now. Check back after the next earnings report.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for FONR yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
by reference. In connection with the closing of the Merger, the Company notified the Nasdaq Stock Market LLC (“ Nasdaq ”) of its intent to remove the Common Stock from listing on Nasdaq and requested that Nasdaq (i) suspend trading of the Common Stock on Nasdaq prior to the opening of trading on June 3, 2026 and (ii) file a Notification of Removal from Listing and/or Registration on Form 25 with the SEC to delist and deregister the Common Stock under Section 12(b) of the Securities Exchange A…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
Looks cheaper than most peers in the same business.
Self-history needs ~20 months of data.
Trailing four: 2022-Q3, 2023-Q1, 2023-Q2, 2023-Q3
A side-by-side read on sector standing, valuation, and risk versus Life Sciences Tools & Services.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
FONR FONAR Corp | Typical Show detailsSector percentile: 70 of 100 | inexpensive | elevated |
TMO Thermo Fisher Scientific | Above typical Show detailsSector percentile: 95 of 100 | fair | moderate |
DHR Danaher Corporation | Above typical Show detailsSector percentile: 98 of 100 | fair | moderate |
A Agilent Technologies | Above typical Show detailsSector percentile: 90 of 100 | fair | moderate |
WAT Waters Corporation | Above typical Show detailsSector percentile: 89 of 100 | fair | moderate |
Not investment advice. As of 2026-06-12.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-12.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
FONAR Corp plans to manage an entirely new MRI center in Nassau County before the end of Fiscal 2026.
FONAR Corp completed a merger, resulting in changes in control and delisting from Nasdaq.
FONAR Corp entered into a new credit agreement with OceanFirst Bank, N.A., providing a $20 million term loan facility.
Changes in Control of Registrant. The information set forth in the Introduction and Items 2.01, 3.03 and 5.02 of this Current Report on Form 8-K is incorporated into this
by reference. At the effective time of the Merger (the “ Effective Time ”), each share of (a) common stock, par value $0.0001 per share, of the Company (“ Common Stock ”), (b) Class B common stock, par value $0.0001 per share, of the Company (“ Class B Common Stock ”), (c) Class C common stock, par value $0.0001 per share, of the Company (“ Class C Common Stock ”), and (d) Class A Non-voting Preferred Stock, par value $0.0001 per share, of the Company (“ Class A Non-voting Preferred Stock ”),…
by reference. Credit Agreement In connection with the Closing, Parent and the Company (as successor in interest to Merger Sub by way of the Merger), as borrowers, entered into a Credit Agreement with OceanFirst Bank, N.A., as lender, and each other borrower from time to time joined as party thereto (the “ Parent Credit Agreement ”), which provides for (i) a term loan facility in an aggregate principal amount equal to $20 million and (ii) a revolving credit facility in an aggregate principal a…
by reference. In connection with the consummation of the Merger (and not because of any disagreement with the Company), each of the following directors of the Company resigned as a member of the Company’s board of directors, effective as of the Effective Time: Ronald G. Lehman II, Richard E. Turk, Jessica Maher and Robert M. Carrino.