Kirk Richard Lee Van, Jr. Sells 19,235 Shares of Pro-Dex (NASDAQ:PDEX) Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $60.58, for a total value of $1,165,256.30. Following the transaction, the chief executive officer owned 79,993 shares of the company’s stock, valued at approximately $4,845,975.94. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $62.81 on Friday. The firm has a market capitalization of $200.99 million, a price-to-earnings ratio of 15.21 and a beta of 0.06. The stock has a fifty day moving average of $62.42 and a 200 day moving average of $57.71. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week 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.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. The business had revenue of $20.40 million for the quarter, compared to the consensus estimate of $19.20 million. As a group, research analysts expect that Pro-Dex, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research upgraded Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Ascendiant Capital Markets increased their target price on Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC grew its holdings in Pro-Dex by 6.2% in 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 period. Wells Fargo & Company MN lifted its holdings in shares of Pro-Dex by 65.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock valued at $89,000 after purchasing an additional 915 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Pro-Dex during the fourth quarter valued at approximately $37,000. Bank of America Corp DE boosted its position in shares of Pro-Dex by 173.3% in the 2nd quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 1,073 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pro-Dex in the 2nd quarter worth approximately $50,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.