Pro-Dex (NASDAQ:PDEX) Downgraded to Buy Rating by StockNews.com

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

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

Pro-Dex Trading Down 0.0 %

NASDAQ:PDEX opened at $53.77 on Friday. The company has a market cap of $175.29 million, a P/E ratio of 34.92 and a beta of 0.56. The stock’s fifty day moving average price is $38.42 and its two-hundred day moving average price is $26.94. Pro-Dex has a 1 year low of $16.10 and a 1 year high of $54.84. 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 posted its earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The firm had revenue of $15.03 million for the quarter. Pro-Dex had a return on equity of 16.74% and a net margin of 9.17%. As a group, analysts expect that Pro-Dex will post 1.42 EPS for the current year.

Insider Transactions at Pro-Dex

In other news, CFO Alisha Charlton sold 1,000 shares of the company’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 owns 15,339 shares of the company’s stock, valued at approximately $613,866.78. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PDEX. Dimensional Fund Advisors LP increased 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 worth $1,238,000 after purchasing an additional 3,067 shares during the period. Geode Capital Management LLC increased its stake in 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 during the last quarter. Bard Associates Inc. increased its stake in 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 during the last quarter. FMR LLC increased its stake in 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 during the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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 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.