Pro-Dex (NASDAQ:PDEX) CEO Sells $368,820.32 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total value of $368,820.32. Following the completion of the transaction, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at approximately $5,893,776.35. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Performance

Shares of PDEX stock traded up $1.63 during trading on Tuesday, hitting $65.15. The company’s stock had a trading volume of 55,396 shares, compared to its average volume of 29,868. The company has a market cap of $207.83 million, a PE ratio of 18.00 and a beta of -0.12. The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $53.42 and a 200-day moving average of $44.58. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week high of $65.88.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.58. The company had revenue of $19.95 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%. As a group, research analysts anticipate that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Corsair Capital Management L.P. purchased a new stake in Pro-Dex in the 1st quarter worth about $532,000. Punch & Associates Investment Management Inc. increased its holdings in Pro-Dex by 2.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock worth $3,032,000 after acquiring an additional 1,735 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its holdings in Pro-Dex by 6.2% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after acquiring an additional 339 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Pro-Dex in the 4th quarter worth about $220,000. Finally, Osaic Holdings Inc. increased its holdings in Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock worth $440,000 after acquiring an additional 3,540 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PDEX. Zacks Research raised Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. Finally, Ascendiant Capital Markets upped their target price on Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pro-Dex has a consensus rating of “Hold” and an average price target of $70.00.

Pro-Dex Company Profile

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.