Analysts Set $6.00 Target Price for Digirad Co. (DRAD)

Digirad Co. (NASDAQ:DRAD) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $6.00 for the company, according to Zacks. Zacks has also given Digirad an industry rank of 226 out of 265 based on the ratings given to related companies.

DRAD has been the subject of several recent research reports. B. Riley reissued a “buy” rating and issued a $6.00 price target on shares of Digirad in a research note on Thursday, October 5th. TheStreet cut shares of Digirad from a “c” rating to a “d+” rating in a research report on Friday, November 3rd. Finally, ValuEngine cut shares of Digirad from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.

Several hedge funds have recently added to or reduced their stakes in DRAD. New York State Common Retirement Fund purchased a new position in shares of Digirad in the second quarter valued at about $574,000. Macquarie Group Ltd. purchased a new position in shares of Digirad in the third quarter valued at about $367,000. Kennedy Capital Management Inc. increased its position in shares of Digirad by 37.5% in the second quarter. Kennedy Capital Management Inc. now owns 227,935 shares of the medical equipment provider’s stock valued at $923,000 after acquiring an additional 62,120 shares during the period. Connors Investor Services Inc. purchased a new position in shares of Digirad in the second quarter valued at about $185,000. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Digirad by 2.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 1,277,781 shares of the medical equipment provider’s stock valued at $5,175,000 after acquiring an additional 28,159 shares during the period. Hedge funds and other institutional investors own 53.08% of the company’s stock.

Digirad (NASDAQ:DRAD) remained flat at $$2.62 during trading on Friday. The company’s stock had a trading volume of 84,471 shares, compared to its average volume of 150,275. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.44 and a quick ratio of 1.07. The firm has a market capitalization of $52.72, a P/E ratio of -4.44 and a beta of 1.89. Digirad has a fifty-two week low of $1.90 and a fifty-two week high of $5.68.

Digirad (NASDAQ:DRAD) last posted its quarterly earnings results on Friday, November 3rd. The medical equipment provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $28.56 million during the quarter, compared to the consensus estimate of $31.21 million. Digirad had a negative net margin of 9.93% and a positive return on equity of 9.82%. equities research analysts forecast that Digirad will post 0.09 EPS for the current year.

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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.

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