Pro-Dex (NASDAQ:PDEX) Downgraded to Buy Rating by StockNews.com

StockNews.com lowered shares of Pro-Dex (NASDAQ:PDEX) from a strong-buy rating to a buy rating in a research report report published on Monday.

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

Pro-Dex Stock Performance

Pro-Dex stock opened at $35.30 on Monday. The company has a market cap of $115.08 million, a PE ratio of 17.56 and a beta of 0.53. Pro-Dex has a twelve month low of $16.18 and a twelve month high of $59.60. The company’s 50-day moving average price is $47.43 and its 200-day moving average price is $34.74. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.23. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. On average, equities research analysts forecast that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Transactions at Pro-Dex

In related news, Director Raymond E. Cabillot sold 6,931 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.22, for a total transaction of $313,419.82. Following the sale, the director now directly owns 337,752 shares of the company’s stock, valued at approximately $15,273,145.44. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alisha Charlton sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $40.02, for a total transaction of $40,020.00. Following the transaction, the chief financial officer now directly owns 15,339 shares in the company, valued at approximately $613,866.78. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,770 shares of company stock worth $1,279,332 over the last 90 days. 47.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new stake in Pro-Dex during the fourth quarter worth about $572,000. Renaissance Technologies LLC grew its holdings 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 valued at $240,000 after purchasing an additional 900 shares in the last quarter. FMR LLC lifted its stake in Pro-Dex by 34.9% in the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after acquiring an additional 1,028 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 worth $819,000 after acquiring an additional 2,296 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Pro-Dex by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

About Pro-Dex

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.