Pro-Dex (NASDAQ:PDEX) CEO Sells 5,872 Shares

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $62.81, for a total value of $368,820.32. Following the completion of the sale, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at $5,893,776.35. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Up 2.6%

NASDAQ:PDEX traded up $1.63 on Tuesday, hitting $65.15. The stock had a trading volume of 55,396 shares, compared to its average volume of 29,868. The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week high of $65.88. The business’s fifty day moving average is $53.42 and its 200 day moving average is $44.58. The company has a market cap of $207.83 million, a PE ratio of 18.00 and a beta of -0.12.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data 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 the consensus estimate of $17.90 million. On average, equities research analysts expect that Pro-Dex, Inc. will post 3.16 EPS for the current fiscal year.

Institutional Trading of Pro-Dex

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Pro-Dex in the fourth quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pro-Dex in the second quarter worth approximately $50,000. Bank of America Corp DE raised its stake in shares of 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 worth $74,000 after purchasing an additional 1,073 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Pro-Dex during the 3rd quarter worth approximately $71,000. Finally, Wells Fargo & Company MN lifted its position in shares of Pro-Dex by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after buying an additional 915 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.