Pro-Dex (NASDAQ:PDEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Pro-Dex (NASDAQ:PDEX) from a hold rating to a buy rating in a research note published on Tuesday morning.

Pro-Dex Stock Down 0.5%

PDEX stock opened at $43.12 on Tuesday. The stock’s fifty day simple moving average is $53.45 and its two-hundred day simple moving average is $46.55. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. Pro-Dex has a 1-year low of $16.84 and a 1-year high of $70.26. The stock has a market cap of $140.61 million, a P/E ratio of 21.45 and a beta of 0.37.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.51. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. The business had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.70 million. Analysts expect that Pro-Dex will post 2 EPS for the current year.

Insider Activity

In other news, Director Raymond E. Cabillot sold 7,674 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $45.00, for a total transaction of $345,330.00. Following the transaction, the director now owns 310,978 shares of the company’s stock, valued at $13,994,010. This represents a 2.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 21,383 shares of company stock valued at $1,031,182 in the last 90 days. Insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management purchased a new position in shares of Pro-Dex during the 4th quarter valued at $572,000. American Century Companies Inc. purchased a new stake in Pro-Dex during the 4th quarter worth about $558,000. Russell Investments Group Ltd. purchased a new stake in Pro-Dex during the 4th quarter worth about $327,000. Bank of New York Mellon Corp purchased a new stake in Pro-Dex during the 4th quarter worth about $202,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Pro-Dex during the 4th quarter worth about $255,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.