Kirk Richard Lee Van, Jr. Sells 4,128 Shares of Pro-Dex (NASDAQ:PDEX) Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total value of $257,422.08. Following the transaction, the chief executive officer directly owned 89,707 shares of the company’s stock, valued at $5,594,128.52. This trade represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Performance

Shares of NASDAQ PDEX opened at $64.58 on Thursday. The stock has a 50 day moving average price of $53.72 and a 200 day moving average price of $44.80. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week high of $66.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67. The stock has a market capitalization of $206.01 million, a PE ratio of 17.84 and a beta of -0.12.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating the consensus estimate of $0.62 by $0.58. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.The firm had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. Analysts predict that Pro-Dex, Inc. will post 3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

PDEX has been the topic of several research analyst reports. Zacks Research upgraded Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Finally, Ascendiant Capital Markets upped their price objective on Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.00.

Institutional Trading of Pro-Dex

Several institutional investors and hedge funds have recently bought and sold shares of PDEX. Los Angeles Capital Management LLC bought a new stake in Pro-Dex in the fourth quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pro-Dex in the second quarter valued at approximately $50,000. AlphaQuest LLC bought a new stake in Pro-Dex in the third quarter valued at approximately $71,000. Bank of America Corp DE raised its stake in Pro-Dex by 173.3% in the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 1,073 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Pro-Dex by 65.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock valued at $89,000 after buying an additional 915 shares during the period. Institutional investors own 15.28% of the company’s stock.

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.