Digirad Corp. (DRAD) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “DIGIRAD CORPORATION provides diagnostic nuclear and ultrasound imaging systems and services to physicians’ offices, hospitals and other medical services providers for cardiac, vascular, and general imaging applications. Digirad’s Cardius XPO line of nuclear imaging cameras use patented solid-state technology and unique multi head design for superior performance and advanced features for sharper digital images, faster processing, compact size, lighter weight for portability, ability to handle patients up to 500 pounds, and improved patient comfort compared to standard nuclear cameras. Digirad’s 2020tc general-purpose nuclear imager has a small footprint and may also be configured for fixed or mobile use to supplement primary imaging. Digirad’s installed base of equipment exceeds 550 systems; in addition, a mobile fleet of 164 nuclear and ultrasound imaging systems is being used in 22 states and the District of Columbia, primarily in the eastern, midwestern and southwestern United States. “
A number of other equities research analysts also recently weighed in on DRAD. Sidoti assumed coverage on shares of Digirad Corp. in a report on Wednesday, May 25th. They issued a buy rating and a $8.00 price target for the company. B. Riley reissued a buy rating and issued a $7.00 price target on shares of Digirad Corp. in a report on Tuesday, July 26th.
Shares of Digirad Corp. (NASDAQ:DRAD) opened at 5.00 on Thursday. Digirad Corp. has a 52-week low of $3.65 and a 52-week high of $6.92. The company has a 50 day moving average of $5.13 and a 200 day moving average of $5.26. The firm has a market capitalization of $97.85 million, a PE ratio of 3.07 and a beta of 1.41.
Digirad Corp. (NASDAQ:DRAD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Digirad Corp. had a net margin of 34.22% and a return on equity of 10.03%. On average, analysts anticipate that Digirad Corp. will post $0.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Wednesday, August 17th were issued a $0.05 dividend. The ex-dividend date was Monday, August 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.00%. Digirad Corp.’s dividend payout ratio is 12.27%.
In other Digirad Corp. news, Director Jeffrey E. Eberwein bought 28,482 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were bought at an average price of $5.00 per share, for a total transaction of $142,410.00. Following the acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at $62,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey E. Eberwein purchased 18,394 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average cost of $5.00 per share, with a total value of $91,970.00. Following the purchase, the director now owns 12,500 shares in the company, valued at approximately $62,500. The disclosure for this purchase can be found here. 11.50% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Foundry Partners LLC boosted its stake in shares of Digirad Corp. by 3.3% in the first quarter. Foundry Partners LLC now owns 327,410 shares of the company’s stock valued at $1,624,000 after buying an additional 10,525 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Digirad Corp. by 22.9% in the second quarter. GSA Capital Partners LLP now owns 99,356 shares of the company’s stock valued at $512,000 after buying an additional 18,500 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of Digirad Corp. by 23.2% in the first quarter. Granite Investment Partners LLC now owns 388,206 shares of the company’s stock valued at $1,926,000 after buying an additional 73,098 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Digirad Corp. by 7.7% in the first quarter. Wellington Management Group LLP now owns 570,929 shares of the company’s stock valued at $2,832,000 after buying an additional 41,000 shares during the last quarter. Finally, Lone Star Value Management LLC boosted its stake in shares of Digirad Corp. by 1.7% in the first quarter. Lone Star Value Management LLC now owns 957,155 shares of the company’s stock valued at $4,748,000 after buying an additional 15,940 shares during the last quarter. 60.63% of the stock is owned by institutional investors and hedge funds.
About Digirad Corp.
Digirad Corporation is a provider of diagnostic solutions. The Company’s business is organized into two segments: Diagnostic Services and Diagnostic Imaging. The Company provides in-office nuclear cardiology and ultrasound imaging services. It also provides cardiac event monitoring services to physician practices, hospitals and imaging centers through its Diagnostic Services business segment.
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