Corsair Capital Management L.P. Takes Position in Pro-Dex, Inc. $PDEX

Corsair Capital Management L.P. acquired a new position in Pro-Dex, Inc. (NASDAQ:PDEX) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,835 shares of the medical instruments supplier’s stock, valued at approximately $532,000. Corsair Capital Management L.P. owned 0.34% of Pro-Dex as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PDEX. Punch & Associates Investment Management Inc. raised its stake in 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 valued at $3,032,000 after purchasing an additional 1,735 shares during the period. Morgan Dempsey Capital Management LLC grew its holdings in Pro-Dex by 6.2% during the 1st 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 in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Pro-Dex during the fourth quarter valued at approximately $220,000. Osaic Holdings Inc. raised its position in shares of Pro-Dex by 44.8% during the fourth quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock valued at $440,000 after buying an additional 3,540 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Pro-Dex by 603.4% in the fourth quarter. Royal Bank of Canada now owns 4,080 shares of the medical instruments supplier’s stock worth $157,000 after buying an additional 3,500 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.

Insider Buying and Selling

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of Pro-Dex stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total transaction of $368,820.32. Following the completion of the transaction, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at $5,893,776.35. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by insiders.

Pro-Dex Stock Performance

Shares of NASDAQ PDEX opened at $54.93 on Monday. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $68.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. The business’s 50 day moving average is $61.84 and its two-hundred day moving average is $51.90. The stock has a market capitalization of $175.23 million, a P/E ratio of 15.17 and a beta of 0.01.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.58. The business had revenue of $19.95 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%. As a group, research analysts expect that Pro-Dex, Inc. will post 3.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PDEX shares. Ascendiant Capital Markets upped their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Weiss Ratings cut shares of Pro-Dex from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. Finally, Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Pro-Dex Company Profile

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.