Pro-Dex (NASDAQ:PDEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Pro-Dex (NASDAQ:PDEX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

Pro-Dex Stock Up 13.8 %

PDEX opened at $26.49 on Friday. Pro-Dex has a 52 week low of $14.51 and a 52 week high of $27.60. The company has a quick ratio of 1.66, a current ratio of 2.84 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $19.89 and a two-hundred day simple moving average of $18.94. The company has a market capitalization of $88.99 million, a PE ratio of 45.66 and a beta of 0.38.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.11. The business had revenue of $15.03 million during the quarter. Pro-Dex had a return on equity of 6.82% and a net margin of 3.95%.

Insider Buying and Selling at Pro-Dex

In other news, Director Angelita Rebamontan Domingo sold 2,585 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $18.30, for a total value of $47,305.50. Following the sale, the director now directly owns 8,191 shares in the company, valued at approximately $149,895.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 42.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Perritt Capital Management Inc. boosted its stake in shares of Pro-Dex by 43.3% during the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 1,813 shares during the period. Renaissance Technologies LLC lifted its stake in Pro-Dex by 7.9% in the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after purchasing an additional 900 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Pro-Dex by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after buying an additional 3,067 shares during the period. Institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.