Insider Selling: Pro-Dex (NASDAQ:PDEX) CEO Sells $368,820.32 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of Pro-Dex stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total transaction of $368,820.32. Following the transaction, the chief executive officer directly owned 93,835 shares in the company, valued at $5,893,776.35. This represents a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX opened at $67.50 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $68.26. The company has a market capitalization of $215.33 million, a P/E ratio of 18.65 and a beta of -0.12. The firm’s 50 day simple moving average is $54.07 and its two-hundred day simple moving average is $45.06.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Pro-Dex

A number of hedge funds have recently bought and sold shares of the business. Corsair Capital Management L.P. purchased a new stake in Pro-Dex during the first quarter valued at $532,000. Punch & Associates Investment Management Inc. raised its stake in Pro-Dex by 2.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock valued at $3,032,000 after purchasing an additional 1,735 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its stake in 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 purchasing an additional 339 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Pro-Dex during the fourth quarter valued at $220,000. Finally, Osaic Holdings Inc. raised its stake in Pro-Dex by 44.8% during the fourth quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock valued at $440,000 after purchasing an additional 3,540 shares in the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Pro-Dex

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.