StockNews.com Downgrades Pro-Dex (NASDAQ:PDEX) to Buy

StockNews.com downgraded 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 raised their target price on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Pro-Dex Stock Down 5.4 %

Shares of NASDAQ:PDEX opened at $32.47 on Monday. The firm has a fifty day moving average price of $46.84 and a two-hundred day moving average price of $34.96. The company has a market cap of $105.85 million, a price-to-earnings ratio of 16.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. Pro-Dex has a one year low of $16.18 and a one year high of $59.60.

Pro-Dex (NASDAQ:PDEX) last posted 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 return on equity of 21.68% and a net margin of 11.06%. Analysts anticipate that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Buying and Selling

In other Pro-Dex news, Director Raymond E. Cabillot sold 5,381 shares of Pro-Dex stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $41.64, for a total transaction of $224,064.84. Following the completion of the sale, the director now owns 319,752 shares of the company’s stock, valued at $13,314,473.28. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 27,770 shares of company stock worth $1,239,312. Corporate insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently modified their holdings of PDEX. FMR LLC lifted 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 worth $119,000 after buying an additional 1,028 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the 4th quarter worth approximately $202,000. Renaissance Technologies LLC boosted its stake in shares of Pro-Dex by 7.9% in the 2nd 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. Bard Associates Inc. boosted its stake in shares of Pro-Dex by 17.6% in the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Pro-Dex during the 4th quarter valued at $572,000. 15.28% of the stock is currently owned by 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.