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

Pro-Dex (NASDAQ:PDEX) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

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

Pro-Dex Trading Down 0.6 %

NASDAQ:PDEX opened at $49.44 on Friday. The stock has a fifty day simple moving average of $39.86 and a 200 day simple moving average of $27.70. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $161.17 million, a price-to-earnings ratio of 32.10 and a beta of 0.56. Pro-Dex has a 1-year low of $16.18 and a 1-year high of $54.84.

Insider Transactions at Pro-Dex

In related news, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $40.02, for a total value 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. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 47.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after buying an additional 900 shares during the last quarter. FMR LLC increased its stake in Pro-Dex by 34.9% during 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 during the period. Bard Associates Inc. raised its holdings in 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 acquiring an additional 2,031 shares in the last quarter. Geode Capital Management LLC raised its holdings in Pro-Dex by 9.1% in the 3rd 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 lifted its position in shares of Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after acquiring an additional 3,067 shares during the period. 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.