Daxor Corporation
- Open
- 9.99
- Day high
- 9.99
- Day low
- 9.75
- Prev close
- 10.29
- Volume
- 0
- Mkt cap
- $60M
- P/E (TTM)
- 5.4
- EPS (TTM)
- $1.82
- P/B
- 1.3
- P/S
- 65.2
- Yield
- —
- Per share
- —
- ▲Insiders net buying $9K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions accumulating (13F)
Daxor Corporation (DXR) is a Healthcare company listed on NASDAQ. The stock is up 3% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
Daxor Corporation (DXR) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DXR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 28, 2024 | — | $-0.34 | — | $71756 | — |
| Aug 28, 2023 | — | $-0.32 | — | $80974 | — |
| Mar 1, 2023 | — | $0.81 | — | $96398 | -99.8% |
| Aug 25, 2022 | — | $-0.22 | — | $135244 | -98.3% |
| May 15, 2022 | — | $0.78 | — | $152438 | — |
| Nov 15, 2021 | — | $-0.19 | — | $125652 | — |
| May 15, 2021 | $0.10 | $0.23 | +128.4% | $145492 | -96.0% |
| Nov 15, 2020 | $0.05 | $-0.85 | -1795.1% | $118948 | -96.0% |
| Feb 28, 2020 | $-0.04 | $-0.22 | -456.3% | $187218 | -85.6% |
| Nov 14, 2018 | — | $-0.17 | — | $229524 | — |
| May 13, 2018 | — | $-0.17 | — | $275312 | — |
| Nov 14, 2017 | — | $-0.16 | — | $276108 | — |
DXR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 25, 2026 | DesRosiers Calebdirector | Grant | 2,500 | $10.14 |
| Jun 25, 2026 | Cremisi Henry D.director | Grant | 2,500 | $10.14 |
| Jun 25, 2026 | Feuer Edwarddirector | Grant | 2,500 | $10.14 |
| Jun 25, 2026 | Feldschuh Michael Richarddirector, officer: Chief Executive Officer | Grant | 30,000 | — |
| Jun 25, 2026 | Michel Robert Jofficer: Chief Financial Officer | Grant | 12,000 | — |
| Jun 25, 2026 | Feldschuh Jonathan Adamdirector, officer: Chief Scientific Officer | Grant | 25,000 | — |
| Jun 25, 2026 | Goudie Joy S.director | Grant | 2,500 | $10.14 |
| Apr 10, 2026 | Feldschuh Michael Richarddirector, officer: Chief Executive Officer | Buy | 1,000 | $9.07 |
| Mar 31, 2026 | Michel Robert Jofficer: Chief Financial Officer | Buy | 1,000 | $9.90 |
| Mar 24, 2026 | Jefferies Johnofficer: Chief Medical Officer | Buy | 2,285 | — |
| Mar 24, 2026 | Jefferies Johnofficer: Chief Medical Officer | Buy | 3,656 | — |
| Dec 11, 2025 | Michel Robert Jofficer: Chief Financial Officer | Buy | 3,000 | — |
| Dec 11, 2025 | Feldschuh Jonathan Adamdirector, officer: Chief Scientific Officer | Buy | 18,000 | — |
| Nov 14, 2025 | Jefferies Johnofficer: Chief Medical Officer | Buy | 2,344 | — |
| Jun 26, 2025 | DesRosiers Calebdirector | Grant | 2,500 | $9.29 |
Source: DXR SEC Form 4 filings, latest Jun 25, 2026. For informational purposes only — not investment advice.
See the full DXR insider & 13F page →Daxor Corporation company profile
Overview
Daxor Corporation (NASDAQ:DXR) is a medical device company founded in 1971 and headquartered in Oak Ridge, Tennessee. Originally incorporated as Idant Corporation, the company changed its name to Daxor Corporation in May 1973 and went public in 1983. Daxor specializes in blood volume measurement technology, developing and marketing diagnostic equipment and test kits that provide precise quantification of a patient's blood volume status. The company operates as both a medical device manufacturer and maintains an investment portfolio, though it is actively working to transition from its current 1940 Investment Company Act designation to focus primarily on its operating medical device business.
Business
Daxor operates in the medical diagnostics industry, specifically focusing on blood volume analysis - a critical but underutilized diagnostic measurement in healthcare. The company's core product is the BVA-100 Blood Volume Analyzer, a diagnostic system that measures a patient's actual blood volume rather than estimating it through indirect methods. Blood volume measurement is essential for proper medical care because many conditions affect how much blood circulates in a patient's body. Traditional methods rely on proxy measurements or estimates based on height, weight, and other factors, which can be inaccurate. Daxor's technology uses a direct measurement approach involving a small injection of a safe radioactive tracer that allows precise calculation of total blood volume, red blood cell volume, and plasma volume. The company's product portfolio includes the BVA-100 analyzer system (the main equipment) and single-use test kits that contain the necessary materials for each blood volume test. Hospitals and medical facilities purchase or lease the analyzer equipment and then buy test kits for each patient examination. The test results help physicians make better decisions about fluid management, blood transfusions, and treatment protocols across various medical specialties including cardiology, nephrology, critical care, and surgery. Daxor is also developing a next-generation point-of-care blood volume analyzer that would reduce test time from the current 60-90 minutes to just 15 minutes and be portable enough for bedside testing. Additionally, the company has acquired intellectual property for related diagnostic products including Volumex (blood volume measurement kits), Glofil (kidney function testing), and Megatope (additional diagnostic applications).
Revenue model
Daxor generates revenue through multiple streams within its medical device business model. The primary revenue source is product sales consisting of both capital equipment sales and recurring consumable sales. Hospitals and medical facilities are the paying customers who either purchase or lease the BVA-100 analyzer systems and then continuously purchase single-use test kits for each patient test performed. The company has implemented a tiered pricing strategy: hospital-performed tests using their kits are priced at $460 per kit, while tests processed through Daxor's reference laboratory service (ezBVA) command a premium price of $965 per test. This dual approach allows the company to serve both hospitals that prefer in-house testing and smaller facilities that prefer to outsource the testing process. Revenue growth drivers include expanding the installed base of analyzer systems, increasing test kit utilization at existing customer sites, and penetrating new medical specialties. The company has identified significant growth potential, noting they have achieved less than 1% market penetration in their addressable market. Factors that could increase margins include the company's recent vertical integration strategy through acquiring manufacturing rights to key products (expecting at least 15% margin improvement), successful launch of the faster next-generation analyzer system, and potential transition to a software-as-a-service model for equipment. Margin pressures could come from competitive pricing in the medical device market, the high costs associated with FDA regulatory compliance and clinical studies, the significant investment required for sales team expansion, and the ongoing research and development expenses for next-generation products. The company's unique position as one of the few providers of direct blood volume measurement technology provides some pricing power, but adoption rates in the conservative healthcare market remain a key challenge for scaling the business.
Competitive moat
Daxor's competitive moat appears moderate but potentially strengthening based on several factors. The company's primary competitive advantage lies in its proprietary technology for direct blood volume measurement, which management claims is more accurate than existing indirect proxy methods used by competitors. This technological differentiation is protected by multiple patents and represents decades of specialized research and development in a niche medical field. The regulatory barriers to entry provide additional protection, as any competing blood volume measurement device would require extensive FDA approval processes, clinical trials, and substantial capital investment. Daxor's established relationships with key opinion leaders in cardiology, nephrology, and critical care, along with their growing body of peer-reviewed clinical publications, create some switching costs and network effects within the medical community. However, the moat faces several vulnerabilities. The overall market for blood volume testing remains small and adoption has been slow despite the technology being available for decades, suggesting either limited clinical utility or significant market education challenges. Large medical device companies with greater resources could potentially develop competing technologies or alternative diagnostic approaches that achieve similar clinical outcomes. The company's small size and limited commercial infrastructure also constrain its ability to compete against well-funded competitors in sales and marketing. The strength of Daxor's moat will likely depend on successful execution of their next-generation point-of-care analyzer, which could significantly expand the addressable market by making blood volume testing more accessible and faster. If the new technology gains widespread adoption and clinical validation, it could establish Daxor as the standard of care in blood volume measurement, creating a stronger competitive position.
Risks & safety
Daxor presents a mixed margin of safety profile with strong balance sheet metrics but concerning cash flow dynamics: **Liquidity and Solvency:** • Minimal debt with debt-to-equity ratio of 0.0% as of Q4 2024 • Strong net assets of $36.8 million ($7.25 per share) • However, negative free cash flow of -$502k in Q4 2024 and historically negative operating cash flows • Company claims to have achieved cash flow breakeven in Q1 2025, but this needs verification **Valuation Metrics:** • Price-to-earnings ratio of 4.4x (Q4 2024) appears attractive but based on investment gains rather than operating profits • EV/EBITDA of 4.3x seems reasonable for a growing medical device company • Price-to-book ratio of 1.06x suggests trading near book value **Other Considerations:** • Revenue growth of 116% year-over-year provides positive momentum • Dual structure as investment company provides some downside protection through investment portfolio • Small market cap of ~$45 million creates liquidity risks and volatility • Dependence on FDA approval for next-generation device creates regulatory risk
Recent development
Over the past few years, Daxor has undergone significant strategic transformation focused on transitioning from a passive investment company to an active medical device operation. The most significant development has been the company's aggressive investment in research and development for a next-generation point-of-care blood volume analyzer that reduces testing time from 60-90 minutes to just 15 minutes while being portable enough for bedside use. The company has strategically pursued vertical integration by acquiring exclusive worldwide manufacturing rights to Volumex, Megatope, and Glofil products from Iso-Tex Pharmaceuticals, which is expected to improve margins by at least 15% while expanding their product portfolio. This acquisition allows Daxor to manufacture these products in their existing 20,000 square foot facility in Oak Ridge, Tennessee, with capacity for 200,000-300,000 test kits annually. Daxor has significantly expanded their clinical validation and market presence, adding 12 new hospital accounts in both 2023 and 2024, and appearing in over a dozen peer-reviewed publications. The company has secured important external validation through a $2.5 million Department of Defense contract and over $350,000 in grants from the NIH and Launch Tennessee, demonstrating growing recognition of their technology's value. A key strategic milestone has been achieving operational cash flow breakeven in Q1 2025 after years of cash burn, while simultaneously maintaining strong revenue growth exceeding 100% in early 2025. The company is also working toward transitioning from their current 1940 Investment Company Act designation to become a pure operating company, which would better reflect their focus on the medical device business rather than investment management.
DXR company profile · for informational purposes only — not investment advice.
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