Two directors at Digirad Corporation (
) are continuously adding to their stake in the company. The
directors, Jeffrey Eberwein (chairman) and Charles Gillman bought
9,000 shares each this week for a combined 18,000 shares. These
shares traded at an average price of $2.60.
Since the beginning of April, Eberwein and Gillman have added a
total of 84,000 shares. Also, since the beginning of April, the
price per share has increased 5.62%
Chairman of the Board
has been consistently increasing his stake in NTS Inc. (
) where he also serves as a director. Recently, Eberwein has seen
growth in both companies.
These buys came as the price of the company hit its previous
52-week high price of $2.60.
Digirad develops, manufactures and distributes solid-state
medical imaging products and services for use in detecting
cardiovascular diseases as well as other medical problems. The
company designed the first solid-state gamma camera.
of Digirad shows that the revenue for the company has been
declining since 2008. The company has also seen a net losses due
to the decrease in revenue and generally high cost in expenses.
Digirad's income has been in the red before depreciation,
depletion and amortization has even been taken out for the past
four years. Despite these factors, the company still holds no
Market Cap: 51.06 M
Shiller P/E: n/a
52 Week Low: 1.73
52 Week High: 2.66
Average Volume: 55,674
On March 13, the company announced its plan to increase its share
buyback practices by establishing a new CEO ownership policy that
requires significant equity participation equal to three times
the CEO's base salary. The restructuring increased the share
buyback from $7 million to $12 million. It also adopted the
resolution to require shareholder approval for any acquisition
exceeding $5 million in purchasing prices.
"These changes demonstrate the shareholder orientation of this
Board and our commitment to continually enhance our corporate
governance," said Chairman Jeffrey Eberwein. "Moving forward,
management and the Board will maintain a clear focus on executing
the business plan and returning value to shareholders-by direct
means such as share buybacks and by enhancing our market value by
growing cash flow per share over time."
Jim Simons currently holds 767,700 shares of Digirad.
With its shares up 1.14%, DRAD trades at $2.66.
To see Digirad's complete list of insider trades, look at the
company's insider trade history.About GuruFocus: GuruFocus.com
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