Pro-Dex (NASDAQ:PDEX) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Pro-Dex (NASDAQ:PDEX) from a buy rating to a strong-buy rating in a report released on Saturday.

Separately, Ascendiant Capital Markets boosted their price objective on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Pro-Dex Price Performance

NASDAQ:PDEX opened at $49.44 on Friday. Pro-Dex has a 52 week low of $16.18 and a 52 week high of $54.84. The stock’s fifty day moving average is $40.23 and its two-hundred day moving average is $27.96. The company has a market capitalization of $161.17 million, a P/E ratio of 32.10 and a beta of 0.56. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

Insider Buying and Selling at Pro-Dex

In other news, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $40.02, for a total transaction of $40,020.00. Following the completion of the transaction, the chief financial officer now directly owns 15,339 shares in the company, valued at $613,866.78. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 47.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds have recently bought and sold shares of PDEX. Dimensional Fund Advisors LP increased its stake in 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 worth $1,238,000 after purchasing an additional 3,067 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pro-Dex by 9.1% in the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock valued at $819,000 after purchasing an additional 2,296 shares in the last quarter. Bard Associates Inc. increased its stake in Pro-Dex by 17.6% during the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after buying an additional 2,031 shares during the period. FMR LLC boosted its position in Pro-Dex by 34.9% in the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock valued at $119,000 after buying an additional 1,028 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of 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 acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds 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.