Pro-Dex (NASDAQ:PDEX) CEO Sells $1,165,256.30 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of Pro-Dex stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $60.58, for a total transaction of $1,165,256.30. Following the transaction, the chief executive officer owned 79,993 shares in the company, valued at approximately $4,845,975.94. This trade represents a 19.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Trading Up 5.0%

Shares of Pro-Dex stock opened at $62.81 on Friday. Pro-Dex, Inc. has a fifty-two week low of $23.47 and a fifty-two week high of $77.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10. The company has a market capitalization of $201.18 million, a P/E ratio of 15.21 and a beta of 0.06. The company has a fifty day moving average of $62.42 and a 200 day moving average of $57.71.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The business had revenue of $20.40 million for the quarter, compared to analysts’ expectations of $19.20 million. On average, sell-side analysts anticipate that Pro-Dex, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Ascendiant Capital Markets lifted their target price on Pro-Dex from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Wall Street Zen upgraded Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Pro-Dex currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Punch & Associates Investment Management Inc. lifted its position in shares of Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock worth $3,032,000 after buying an additional 1,735 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 valued at $2,255,000 after buying an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Pro-Dex by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after acquiring an additional 14,479 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Pro-Dex in the 2nd quarter worth approximately $678,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Pro-Dex by 44.8% during 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 in the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.