StockNews.com Downgrades Pro-Dex (NASDAQ:PDEX) to Hold

StockNews.com downgraded shares of Pro-Dex (NASDAQ:PDEX) from a buy rating to a hold rating in a research report report published on Wednesday.

Pro-Dex Stock Performance

Shares of Pro-Dex stock opened at $49.66 on Wednesday. The stock has a market cap of $161.94 million, a PE ratio of 24.71 and a beta of 0.68. The business has a fifty day simple moving average of $39.97 and a 200-day simple moving average of $38.07. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. Pro-Dex has a 12 month low of $16.83 and a 12 month high of $59.60.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. On average, sell-side analysts anticipate that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Activity at Pro-Dex

In related news, Director Raymond E. Cabillot sold 7,674 shares of Pro-Dex stock in a transaction on Monday, March 10th. The stock was sold at an average price of $45.00, for a total transaction of $345,330.00. Following the completion of the sale, the director now owns 310,978 shares of the company’s stock, valued at approximately $13,994,010. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 35,444 shares of company stock valued at $1,584,642. Insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in shares of Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock worth $740,000 after buying an additional 529 shares during the last quarter. FMR LLC increased its stake 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 worth $119,000 after purchasing an additional 1,028 shares during the period. Renaissance Technologies LLC increased its stake in shares of Pro-Dex by 8.1% in the fourth quarter. Renaissance Technologies LLC now owns 14,740 shares of the medical instruments supplier’s stock worth $689,000 after purchasing an additional 1,100 shares during the period. Bard Associates Inc. increased its stake 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 worth $406,000 after purchasing an additional 2,031 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Pro-Dex by 9.1% in the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after purchasing an additional 2,296 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.