Pro-Dex (NASDAQ:PDEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Pro-Dex (NASDAQ:PDEX) from a hold rating to a buy rating in a research report released on Tuesday.

Pro-Dex Stock Performance

Shares of PDEX opened at $43.12 on Tuesday. The stock’s 50-day simple moving average is $53.45 and its 200 day simple moving average is $46.55. The stock has a market capitalization of $140.61 million, a price-to-earnings ratio of 21.45 and a beta of 0.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $70.26.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.51. The business had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.70 million. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. Research analysts forecast that Pro-Dex will post 2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pro-Dex news, Director Raymond E. Cabillot sold 7,674 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $45.00, for a total value of $345,330.00. Following the transaction, the director now directly owns 310,978 shares in the company, valued at $13,994,010. This represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 21,383 shares of company stock worth $1,031,182 in the last ninety days. 47.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pro-Dex

A number of institutional investors have recently added to or reduced their stakes in PDEX. EAM Investors LLC bought a new position in Pro-Dex in the 4th quarter worth about $1,047,000. Navellier & Associates Inc. bought a new position in shares of Pro-Dex during the 1st quarter valued at about $1,094,000. O Shaughnessy Asset Management LLC bought a new position in shares of Pro-Dex during the 4th quarter valued at about $995,000. 683 Capital Management LLC bought a new position in shares of Pro-Dex during the 4th quarter valued at about $739,000. Finally, Ritholtz Wealth Management bought a new position in shares of Pro-Dex during the 4th quarter valued at about $572,000. 15.28% of the stock is currently owned by institutional investors.

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.