Ellsworth Advisors LLC Makes New Investment in Pro-Dex, Inc. $PDEX

Ellsworth Advisors LLC bought a new stake in Pro-Dex, Inc. (NASDAQ:PDEX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 16,904 shares of the medical instruments supplier’s stock, valued at approximately $1,166,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. bought a new stake in shares of Pro-Dex during the third quarter worth $207,000. Morgan Dempsey Capital Management LLC lifted its stake 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 valued at $286,000 after acquiring an additional 339 shares during the period. Navellier & Associates Inc. acquired a new position in shares of Pro-Dex during the second quarter valued at $322,000. Corsair Capital Management L.P. bought a new position in Pro-Dex in the first quarter valued at about $532,000. Finally, Bank of New York Mellon Corp bought a new position in Pro-Dex in the second quarter valued at about $678,000. 15.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PDEX shares. Ascendiant Capital Markets lifted 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. Weiss Ratings raised Pro-Dex from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Pro-Dex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $74.00.

Pro-Dex Stock Performance

Shares of Pro-Dex stock opened at $60.02 on Friday. The firm has a fifty day moving average of $66.27 and a two-hundred day moving average of $61.25. The stock has a market capitalization of $193.86 million, a price-to-earnings ratio of 14.53 and a beta of 0.04. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week 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.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $20.41 million for the quarter, compared to analyst estimates of $19.20 million. As a group, equities research analysts predict that Pro-Dex, Inc. will post 3.09 EPS for the current year.

Insider Transactions at Pro-Dex

In related news, CFO Alisha Charlton sold 2,300 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $61.30, for a total value of $140,990.00. Following the completion of the sale, the chief financial officer owned 21,870 shares in the company, valued at approximately $1,340,631. This represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $45,410.40. Following the completion of the transaction, the chief executive officer directly owned 79,228 shares in the company, valued at $4,702,974.08. The trade was a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,300 shares of company stock valued at $1,351,657 in the last quarter. 48.00% of the stock is currently owned by corporate insiders.

Pro-Dex Company Profile

Pro-Dex, Inc is a medical device company that designs, develops and manufactures powered surgical instruments and related equipment. Its products are primarily used in orthopedic, dental and other surgical procedures, where precision, reliability and controlled power are important.

The company supplies instruments and components to original equipment manufacturers and other medical device customers. Its capabilities include product design and development, engineering, manufacturing, assembly and related support services.