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

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

Pro-Dex Stock Down 2.6 %

NASDAQ:PDEX traded down $1.25 during midday trading on Wednesday, reaching $46.53. 47,281 shares of the stock traded hands, compared to its average volume of 33,282. The business has a 50-day moving average of $39.93 and a two-hundred day moving average of $37.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex has a 12-month low of $16.83 and a 12-month high of $59.60. The stock has a market capitalization of $151.73 million, a PE ratio of 23.15 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. On average, equities analysts forecast that Pro-Dex will post 2 earnings per share for the current fiscal year.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $47.76, for a total value of $57,312.00. Following the sale, the director now directly owns 359,646 shares of the company’s stock, valued at approximately $17,176,692.96. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 35,444 shares of company stock valued at $1,584,642 in the last ninety days. Company insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Pro-Dex by 34.9% during the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after purchasing an additional 1,028 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Pro-Dex during the fourth quarter valued at approximately $202,000. Trexquant Investment LP purchased a new position in shares of Pro-Dex in the fourth quarter valued at approximately $252,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Pro-Dex in the fourth quarter worth approximately $254,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pro-Dex during the fourth quarter worth approximately $255,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Pro-Dex Company Profile

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.