Pro-Dex (NASDAQ:PDEX) Stock Rating Lowered by 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 report released on Monday.

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

Pro-Dex Price Performance

Pro-Dex stock opened at $34.34 on Monday. The company has a market capitalization of $111.95 million, a price-to-earnings ratio of 17.08 and a beta of 0.53. 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 has a 12 month low of $16.18 and a 12 month high of $59.60. The stock’s 50 day moving average is $47.15 and its 200-day moving average is $34.86.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping 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%. Equities research analysts expect that Pro-Dex will post 2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Raymond E. Cabillot sold 835 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $42.00, for a total transaction of $35,070.00. Following the completion of the transaction, the director now owns 334,646 shares of the company’s stock, valued at approximately $14,055,132. The trade was a 0.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $40.02, for a total value of $40,020.00. Following the completion of the sale, the chief financial officer now directly owns 15,339 shares in the company, valued at $613,866.78. This trade represents 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 ninety days. Corporate insiders own 47.50% of the company’s stock.

Institutional Investors Weigh In On Pro-Dex

A number of hedge funds and other institutional investors have recently bought and sold shares of PDEX. Ritholtz Wealth Management bought a new stake in shares of Pro-Dex during the fourth quarter worth about $572,000. Bank of New York Mellon Corp acquired a new stake in Pro-Dex during the 4th quarter worth approximately $202,000. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 3,067 shares during the last quarter. Geode Capital Management LLC increased its position 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 during the period. Finally, Bard Associates Inc. raised its stake in shares of Pro-Dex by 17.6% during 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 during the last quarter. Institutional investors own 15.28% of the company’s stock.

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.