Digirad Co. (DRAD) Stake Cut by ARS Investment Partners LLC

ARS Investment Partners LLC lowered its position in Digirad Co. (NASDAQ:DRAD) by 24.0% during the first quarter, Holdings Channel reports. The firm owned 644,793 shares of the medical equipment provider’s stock after selling 203,177 shares during the period. ARS Investment Partners LLC owned 3.23% of Digirad worth $3,417,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DRAD. LSV Asset Management acquired a new position in shares of Digirad during the first quarter worth $120,000. Perritt Capital Management Inc. increased its position in shares of Digirad by 3.8% in the fourth quarter. Perritt Capital Management Inc. now owns 24,500 shares of the medical equipment provider’s stock worth $123,000 after buying an additional 900 shares during the period. Algert Global LLC increased its position in shares of Digirad by 13.1% in the first quarter. Algert Global LLC now owns 31,107 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 3,610 shares during the period. Spark Investment Management LLC increased its position in shares of Digirad by 204.3% in the third quarter. Spark Investment Management LLC now owns 42,900 shares of the medical equipment provider’s stock worth $218,000 after buying an additional 28,800 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Digirad during the first quarter worth $537,000. 58.86% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Digirad (NASDAQ:DRAD)

Digirad Co. (NASDAQ:DRAD) traded down 7.41% during trading on Friday, hitting $3.75. The stock had a trading volume of 326,332 shares. The firm has a 50 day moving average price of $4.79 and a 200-day moving average price of $4.89. Digirad Co. has a 1-year low of $3.75 and a 1-year high of $6.15. The firm has a market capitalization of $74.91 million, a PE ratio of 120.97 and a beta of 1.56.

Digirad (NASDAQ:DRAD) last issued its quarterly earnings results on Friday, April 28th. The medical equipment provider reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by $0.06. Digirad had a return on equity of 8.77% and a net margin of 11.83%. The company had revenue of $29.08 million for the quarter, compared to analysts’ expectations of $31.80 million. On average, equities research analysts expect that Digirad Co. will post $0.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Monday, May 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, May 11th. This represents a $0.20 annualized dividend and a dividend yield of 4.94%. Digirad’s payout ratio is currently 30.77%.

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A number of equities analysts have weighed in on the company. B. Riley reissued a “buy” rating and set a $6.70 price target on shares of Digirad in a research report on Wednesday, April 26th. TheStreet downgraded Digirad from a “b” rating to a “c+” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research downgraded Digirad from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd.

About Digirad

Digirad Corporation provides healthcare solutions. The Company’s segments include Diagnostic Services, Mobile Healthcare, Diagnostic Imaging and Medical Device Sales and Services. Through Diagnostic Services, the Company offers an imaging services program as an alternative to purchasing equipment or outsourcing the procedures to another physician or imaging center.

12 Month Chart for NASDAQ:DRAD

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