Kirk Richard Lee Van, Jr. Sells 765 Shares of Pro-Dex (NASDAQ:PDEX) Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 765 shares of Pro-Dex 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 transaction, the chief executive officer directly owned 79,228 shares of the company’s stock, valued at $4,702,974.08. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Up 0.5%

Pro-Dex stock opened at $66.91 on Wednesday. Pro-Dex, Inc. has a one year low of $23.47 and a one year high of $77.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10. The firm has a market capitalization of $214.31 million, a P/E ratio of 16.20 and a beta of 0.06. The company has a 50-day simple moving average of $62.68 and a 200-day simple moving average of $58.18.

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

Institutional Investors Weigh In On Pro-Dex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc. bought a new stake in shares of Pro-Dex in the 2nd quarter valued at about $322,000. Morgan Dempsey Capital Management LLC raised 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 acquiring an additional 339 shares during the period. Corsair Capital Management L.P. acquired a new stake in shares of Pro-Dex in the 1st quarter valued at about $532,000. Bank of New York Mellon Corp acquired a new stake in Pro-Dex in the 2nd quarter valued at approximately $678,000. Finally, Punch & Associates Investment Management Inc. lifted its position in shares of Pro-Dex by 23.4% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 60,000 shares of the medical instruments supplier’s stock worth $2,309,000 after purchasing an additional 11,392 shares in the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PDEX shares. Ascendiant Capital Markets raised their price objective on Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Wall Street Zen raised shares of Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Finally, Zacks Research upgraded Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Pro-Dex Company Profile

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.