Pro-Dex (NASDAQ:PDEX) Rating Lowered to Buy at StockNews.com

Pro-Dex (NASDAQ:PDEX) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

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

Pro-Dex Stock Performance

Shares of Pro-Dex stock opened at $53.77 on Friday. Pro-Dex has a one year low of $16.10 and a one year high of $54.84. The firm has a market capitalization of $175.29 million, a price-to-earnings ratio of 34.92 and a beta of 0.56. The business has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $26.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 1.94.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 16.74% and a net margin of 9.17%. On average, research analysts anticipate that Pro-Dex will post 1.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alisha Charlton sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $40.02, for a total value of $40,020.00. Following the completion of the transaction, the chief financial officer now directly owns 15,339 shares of the company’s stock, valued at $613,866.78. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 grew its holdings in shares of Pro-Dex by 34.9% in the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock valued at $119,000 after acquiring an additional 1,028 shares in the last quarter. 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 acquiring an additional 900 shares in the last quarter. Bard Associates Inc. grew its holdings in shares of Pro-Dex by 17.6% in the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after acquiring an additional 2,031 shares in the last quarter. 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 acquiring an additional 2,296 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Pro-Dex by 5.1% in 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 acquiring an additional 3,067 shares in the last quarter. 15.28% of the stock is 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.