Pro-Dex (NASDAQ:PDEX) Stock Bumped Down to Hold by Zacks Research

Pro-Dex (NASDAQ:PDEX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other analysts also recently weighed in on PDEX. Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Ascendiant Capital Markets raised their price target on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Pro-Dex Stock Down 0.6%

Shares of PDEX opened at $69.86 on Monday. The company has a market capitalization of $223.55 million, a PE ratio of 19.26 and a beta of 0.12. Pro-Dex has a 12 month low of $28.81 and a 12 month high of $77.00. The stock’s 50-day moving average price is $64.66 and its two-hundred day moving average price is $57.26. The company has a current ratio of 4.19, a quick ratio of 2.49 and a debt-to-equity ratio of 0.25.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. Pro-Dex had a return on equity of 26.18% and a net margin of 15.12%. The company had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $20.40 million. On average, analysts anticipate that Pro-Dex will post 3.09 EPS for the current year.

Insiders Place Their Bets

In other Pro-Dex news, CFO Alisha Charlton sold 2,300 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $61.30, for a total transaction of $140,990.00. Following the completion of the sale, the chief financial officer directly owned 21,870 shares in the company, valued at approximately $1,340,631. This trade represents a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kirk Richard Lee Van, Jr. sold 765 shares of Pro-Dex stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $59.36, for a total value of $45,410.40. Following the completion of the transaction, the chief executive officer directly owned 79,228 shares of the company’s stock, valued at approximately $4,702,974.08. This trade represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,300 shares of company stock worth $1,351,657 in the last ninety days. Insiders own 48.00% of the company’s stock.

Institutional Investors Weigh In On Pro-Dex

A number of hedge funds have recently added to or reduced their stakes in PDEX. Morgan Dempsey Capital Management LLC lifted its stake in Pro-Dex by 6.2% in the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 339 shares during the period. Punch & Associates Investment Management Inc. grew its position in shares of Pro-Dex by 2.9% during 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 buying an additional 1,735 shares during the period. Ritholtz Wealth Management grew its position in shares of Pro-Dex by 57.7% during the 3rd quarter. Ritholtz Wealth Management now owns 7,288 shares of the medical instruments supplier’s stock worth $503,000 after buying an additional 2,668 shares during the period. James Investment Research Inc. bought a new stake in shares of Pro-Dex in the 3rd quarter valued at $207,000. Finally, Focus Financial Network Inc. bought a new stake in shares of Pro-Dex in the 3rd quarter valued at $207,000. 15.28% of the stock is currently owned by institutional investors.

Pro-Dex Company Profile

Pro-Dex, Inc. (NASDAQ:PDEX) designs, develops and manufactures powered surgical instruments and related products for the medical device industry. The company primarily serves original equipment manufacturers that incorporate Pro-Dex instruments into surgical systems sold under their own brands. Its products include battery-powered and pneumatic handpieces, rotary instruments, micro-drills, saws, controllers and other specialized equipment used in orthopedic, dental, ophthalmic and other surgical applications.