Punch & Associates Investment Management Inc. Purchases 11,392 Shares of Pro-Dex, Inc. $PDEX

Punch & Associates Investment Management Inc. grew its position in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 23.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the medical instruments supplier’s stock after buying an additional 11,392 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Pro-Dex were worth $2,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PDEX. Geode Capital Management LLC lifted its position in shares of Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after buying an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after buying an additional 14,479 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Pro-Dex during the 1st quarter worth approximately $321,000. LPL Financial LLC bought a new position in shares of Pro-Dex during the 4th quarter worth approximately $228,000. Finally, First Trust Advisors LP bought a new position in shares of Pro-Dex during the 4th quarter worth approximately $222,000. Institutional investors own 15.28% of the company’s stock.

Pro-Dex Trading Down 2.2%

NASDAQ:PDEX opened at $62.32 on Wednesday. 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 stock has a market capitalization of $198.80 million, a PE ratio of 17.22 and a beta of -0.02. The firm’s 50 day moving average is $58.04 and its 200 day moving average is $48.00. Pro-Dex, Inc. has a 12 month low of $23.47 and a 12 month high of $68.99.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.58. The company had revenue of $19.95 million for the quarter, compared to analysts’ expectations of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. Sell-side analysts expect that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Insider Transactions at Pro-Dex

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total transaction of $257,422.08. Following the sale, the chief executive officer owned 89,707 shares of the company’s stock, valued at $5,594,128.52. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

About Pro-Dex

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.