Pro-Dex (NASDAQ:PDEX) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Pro-Dex (NASDAQ:PDEX) from a strong-buy rating to a buy rating in a report issued on Monday.

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

Pro-Dex Stock Performance

PDEX opened at $32.47 on Monday. The company has a market cap of $105.85 million, a price-to-earnings ratio of 16.15 and a beta of 0.53. Pro-Dex has a 1-year low of $16.18 and a 1-year high of $59.60. The company’s fifty day moving average price is $46.84 and its two-hundred day moving average price is $34.96. 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 (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. On average, analysts expect that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Buying and Selling

In other Pro-Dex news, Director Raymond E. Cabillot sold 6,931 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $45.22, for a total value of $313,419.82. Following the completion of the sale, the director now directly owns 337,752 shares of the company’s stock, valued at $15,273,145.44. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 27,770 shares of company stock worth $1,239,312. Insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its position in shares of 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 purchasing an additional 1,028 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Pro-Dex in the fourth quarter worth $202,000. Ritholtz Wealth Management bought a new position in shares of Pro-Dex in the fourth quarter worth $572,000. Renaissance Technologies LLC boosted its holdings in shares of Pro-Dex by 7.9% in the second 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 period. Finally, Bard Associates Inc. grew its position in shares of 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 purchasing an additional 2,031 shares in 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.