Pro-Dex, Inc. (NASDAQ:PDEX – Get Free Report) CEO Kirk Richard Lee Van, Jr. sold 765 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $59.36, for a total transaction of $45,410.40. Following the completion of the sale, the chief executive officer owned 79,228 shares of the company’s stock, valued at approximately $4,702,974.08. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Pro-Dex Stock Up 7.4%
PDEX stock opened at $71.85 on Thursday. Pro-Dex, Inc. has a twelve month low of $23.47 and a twelve month high of $77.00. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The company has a market cap of $229.92 million, a PE ratio of 17.40 and a beta of 0.06. The business’s 50-day simple moving average is $62.92 and its 200 day simple moving average is $58.37.
Pro-Dex (NASDAQ:PDEX – Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, beating the consensus estimate of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The firm had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $19.20 million. On average, research analysts anticipate that Pro-Dex, Inc. will post 3.09 earnings per share for the current year.
Key Stories Impacting Pro-Dex
- Positive Sentiment: Ascendiant raises earnings forecasts: Ascendiant Capital Markets increased its FY2027 EPS forecast to $3.09 from $2.78, including higher estimates for the first three quarters of FY2027. The firm also projects FY2028 EPS of $3.36, suggesting continued earnings growth for Pro-Dex. Pro-Dex analyst estimates
- Positive Sentiment: Buy rating and higher price target support sentiment: Ascendiant maintained its “Buy” rating and $74 price target. The target was previously raised from $70, while the broader analyst consensus is “Moderate Buy” with a $74 target. Pro-Dex analyst ratings
- Positive Sentiment: Recent results beat expectations: Pro-Dex reported quarterly EPS of $0.87 versus the $0.67 consensus estimate and revenue of $20.40 million versus expectations of $19.20 million. The company also posted a 17.62% net margin and 25.13% return on equity, reinforcing the bullish earnings outlook.
- Positive Sentiment: Institutional interest increased: Several institutions initiated or expanded positions, including Bank of New York Mellon, Corsair Capital Management, Navellier & Associates, and Punch & Associates. Institutional investors own approximately 15.28% of PDEX shares.
- Neutral Sentiment: CEO sold a small stake: CEO Kirk Richard Lee Van, Jr. sold 765 shares for approximately $45,410 under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by less than 1% and is therefore a limited signal, particularly because it was scheduled in advance. Pro-Dex CEO stock sale
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Ascendiant Capital Markets boosted their price target on shares of Pro-Dex from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Finally, Wall Street Zen raised shares of Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Pro-Dex currently has an average rating of “Moderate Buy” and a consensus target price of $74.00.
Check Out Our Latest Stock Report on Pro-Dex
Hedge Funds Weigh In On Pro-Dex
Several institutional investors have recently bought and sold shares of PDEX. Morgan Dempsey Capital Management LLC grew its holdings in shares of Pro-Dex by 6.2% during the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 339 shares during the last quarter. Navellier & Associates Inc. acquired a new position in Pro-Dex during the 2nd quarter worth about $322,000. Corsair Capital Management L.P. acquired a new position in Pro-Dex during the 1st quarter worth about $532,000. Bank of New York Mellon Corp bought a new stake in Pro-Dex during the 2nd quarter worth about $678,000. Finally, Punch & Associates Investment Management Inc. grew its holdings in Pro-Dex by 23.4% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 60,000 shares of the medical instruments supplier’s stock worth $2,309,000 after acquiring an additional 11,392 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.
About Pro-Dex
Pro-Dex, Inc is a medical device manufacturer that designs, develops and produces powered surgical instruments and related equipment. The company primarily serves original equipment manufacturers (OEMs), which incorporate Pro-Dex products into surgical systems sold under their own brands.
Its product portfolio includes battery-powered and electric handpieces, controllers, drivers, saws, microdebriders and other precision instruments used in medical and dental procedures. Pro-Dex also provides related components and accessories, including batteries, chargers and instrument controls, as well as engineering, manufacturing and product-development support for its customers.
Based in Irvine, California, Pro-Dex serves customers in the United States and international markets.
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