Morgan Dempsey Capital Management LLC purchased a new position in shares of Pro-Dex, Inc. (NASDAQ:PDEX – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,109 shares of the medical instruments supplier’s stock, valued at approximately $179,000.
Other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Pro-Dex during the first quarter worth approximately $170,000. Bank of New York Mellon Corp grew its holdings in Pro-Dex by 48.5% in the 1st quarter. Bank of New York Mellon Corp now owns 6,415 shares of the medical instruments supplier’s stock valued at $318,000 after buying an additional 2,096 shares in the last quarter. Jane Street Group LLC purchased a new stake in Pro-Dex in the 1st quarter valued at $321,000. American Century Companies Inc. grew its holdings in Pro-Dex by 3.0% in the 1st quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier’s stock valued at $610,000 after buying an additional 355 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in Pro-Dex by 32.4% in the 2nd quarter. Ritholtz Wealth Management now owns 21,102 shares of the medical instruments supplier’s stock valued at $921,000 after buying an additional 5,158 shares in the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on PDEX. Wall Street Zen cut Pro-Dex from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Pro-Dex in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.
Pro-Dex Stock Performance
NASDAQ PDEX opened at $26.22 on Friday. The stock has a market cap of $86.00 million, a PE ratio of 9.71 and a beta of -0.11. The company has a current ratio of 3.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.25. Pro-Dex, Inc. has a twelve month low of $23.47 and a twelve month high of $70.26. The stock has a fifty day simple moving average of $37.32 and a 200-day simple moving average of $44.68.
Pro-Dex (NASDAQ:PDEX – Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The medical instruments supplier reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The business had revenue of $17.49 million for the quarter, compared to analysts’ expectations of $17.90 million. Pro-Dex had a return on equity of 26.67% and a net margin of 13.48%. Equities analysts anticipate that Pro-Dex, Inc. will post 2 earnings per share for the current year.
Pro-Dex 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.
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