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

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

Pro-Dex Trading Down 1.8 %

Shares of NASDAQ:PDEX opened at $45.70 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. The stock’s 50-day moving average is $39.92 and its 200-day moving average is $37.87. The company has a market cap of $149.03 million, a P/E ratio of 22.74 and a beta of 0.68. Pro-Dex has a 52-week low of $16.83 and a 52-week high of $59.60.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share 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%. Equities research analysts predict that Pro-Dex will post 2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Raymond E. Cabillot sold 1,200 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $47.76, for a total value of $57,312.00. Following the sale, the director now owns 359,646 shares of the company’s stock, valued at approximately $17,176,692.96. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 35,444 shares of company stock worth $1,584,642 over the last quarter. Company insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in Pro-Dex by 34.9% during 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the 4th quarter valued at about $202,000. Trexquant Investment LP bought a new position in shares of Pro-Dex during the fourth quarter worth $252,000. Integrated Quantitative Investments LLC bought a new position in Pro-Dex during the fourth quarter worth about $254,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Pro-Dex during the 4th quarter valued at about $255,000. 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.