Arrowstreet Capital Limited Partnership Makes New $255,000 Investment in Pro-Dex, Inc. (NASDAQ:PDEX)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Pro-Dex, Inc. (NASDAQ:PDEX) in the 4th quarter, Holdings Channel reports. The fund acquired 5,448 shares of the medical instruments supplier’s stock, valued at approximately $255,000.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its position in Pro-Dex by 34.9% during the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after acquiring an additional 1,028 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Pro-Dex in the fourth quarter worth about $202,000. American Century Companies Inc. acquired a new stake in shares of Pro-Dex during the fourth quarter worth about $558,000. Ritholtz Wealth Management purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $572,000. Finally, JPMorgan Chase & Co. increased its holdings in Pro-Dex by 2.2% in the 3rd 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 period. 15.28% of the stock is owned by hedge funds and other institutional investors.

Pro-Dex Trading Up 3.5 %

Shares of NASDAQ:PDEX opened at $63.23 on Monday. The business has a 50 day moving average of $43.65 and a two-hundred day moving average of $42.37. Pro-Dex, Inc. has a 12-month low of $16.84 and a 12-month high of $65.87. The company has a market capitalization of $206.19 million, a PE ratio of 31.46 and a beta of 0.40. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. As a group, analysts forecast that Pro-Dex, Inc. will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Pro-Dex from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th.

Insider Buying and Selling

In other news, Director Raymond E. Cabillot sold 7,674 shares of Pro-Dex stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $45.00, for a total value of $345,330.00. Following the sale, the director now directly owns 310,978 shares of the company’s stock, valued at $13,994,010. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 44,329 shares of company stock worth $2,044,087. Insiders own 47.50% 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.