StockNews.com Begins Coverage on Pro-Dex (NASDAQ:PDEX)

StockNews.com initiated coverage on shares of Pro-Dex (NASDAQ:PDEX) in a research note published on Wednesday. The firm issued a buy rating on the medical instruments supplier’s stock.

Pro-Dex Stock Up 1.8 %

Shares of NASDAQ:PDEX opened at $17.85 on Wednesday. Pro-Dex has a fifty-two week low of $14.51 and a fifty-two week high of $19.68. The company has a quick ratio of 1.83, a current ratio of 3.79 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $16.52 and its 200-day simple moving average is $17.28. The company has a market cap of $63.37 million, a price-to-earnings ratio of 21.00 and a beta of 0.88.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Friday, October 13th. The medical instruments supplier reported $0.42 EPS for the quarter. Pro-Dex had a net margin of 6.56% and a return on equity of 10.89%. The firm had revenue of $10.64 million during the quarter.

Hedge Funds Weigh In On Pro-Dex

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. increased its holdings in Pro-Dex by 13.5% in the first quarter. Punch & Associates Investment Management Inc. now owns 63,075 shares of the medical instruments supplier’s stock valued at $1,035,000 after buying an additional 7,480 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Pro-Dex by 2.7% during the third quarter. Dimensional Fund Advisors LP now owns 58,126 shares of the medical instruments supplier’s stock worth $1,030,000 after purchasing an additional 1,535 shares during the last quarter. LSV Asset Management raised its holdings in Pro-Dex by 13.9% during the first quarter. LSV Asset Management now owns 35,581 shares of the medical instruments supplier’s stock worth $588,000 after purchasing an additional 4,346 shares during the last quarter. Northern Trust Corp boosted its position in Pro-Dex by 4.1% during the second quarter. Northern Trust Corp now owns 19,735 shares of the medical instruments supplier’s stock worth $377,000 after purchasing an additional 776 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Pro-Dex by 59.2% in the first quarter. JPMorgan Chase & Co. now owns 20,863 shares of the medical instruments supplier’s stock valued at $345,000 after purchasing an additional 7,762 shares during the last quarter. 14.78% of the stock is owned by institutional investors and hedge funds.

About Pro-Dex

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.