Pro-Dex (NASDAQ:PDEX) Stock Rating Lowered by StockNews.com

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

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

Pro-Dex Stock Performance

NASDAQ:PDEX opened at $34.34 on Monday. The company has a market capitalization of $111.95 million, a PE ratio of 17.08 and a beta of 0.53. Pro-Dex has a fifty-two week low of $16.18 and a fifty-two week high of $59.60. 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 company has a 50 day simple moving average of $47.15 and a two-hundred day simple moving average of $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 net margin of 11.06% and a return on equity of 21.68%. Research analysts anticipate that Pro-Dex will post 2 earnings per share for the current year.

Insiders Place Their Bets

In other Pro-Dex news, CFO Alisha Charlton sold 1,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $40.02, for a total transaction of $40,020.00. Following the completion of the sale, the chief financial officer now owns 15,339 shares in the company, valued at approximately $613,866.78. The trade was a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Raymond E. Cabillot sold 3,624 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $46.66, for a total transaction of $169,095.84. Following the completion of the transaction, the director now directly owns 356,022 shares in the company, valued at $16,611,986.52. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,770 shares of company stock worth $1,279,332. 47.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pro-Dex

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake 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 last quarter. Geode Capital Management LLC grew its holdings in Pro-Dex by 9.1% during the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after buying an additional 2,296 shares in the last quarter. JPMorgan Chase & Co. raised its position in Pro-Dex by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after buying an additional 529 shares during the last quarter. Bard Associates Inc. lifted its stake in Pro-Dex by 17.6% during 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. Finally, Renaissance Technologies LLC boosted its holdings in Pro-Dex by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after acquiring an additional 900 shares during the last quarter. Institutional investors and hedge funds 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.