Insider Selling: Pro-Dex, Inc. (NASDAQ:PDEX) Director Sells 2,784 Shares of Stock

Pro-Dex, Inc. (NASDAQ:PDEX) Director Raymond E. Cabillot sold 2,784 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $139,200.00. Following the completion of the transaction, the director now owns 295,810 shares of the company’s stock, valued at $14,790,500. The trade was a 0.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Pro-Dex Stock Performance

Shares of PDEX traded down $0.38 during midday trading on Tuesday, reaching $49.62. The stock had a trading volume of 46,320 shares, compared to its average volume of 21,917. The firm has a market cap of $161.81 million, a PE ratio of 24.69 and a beta of 0.68. The firm has a 50 day simple moving average of $39.93 and a 200-day simple moving average of $39.61. Pro-Dex, Inc. has a one year low of $16.84 and a one year high of $59.60. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results 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%. As a group, sell-side analysts anticipate that Pro-Dex, Inc. will post 2 EPS for the current year.

Hedge Funds Weigh In On Pro-Dex

Institutional investors and hedge funds have recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new stake in Pro-Dex during the 4th quarter worth approximately $572,000. FMR LLC lifted its holdings in shares of Pro-Dex by 34.9% during the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after buying an additional 1,028 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pro-Dex by 9.1% during the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after buying an additional 2,296 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after acquiring an additional 529 shares during the period. Finally, 683 Capital Management LLC acquired a new position in shares of Pro-Dex in the fourth quarter valued at about $739,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Pro-Dex from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th.

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.