Punch & Associates Investment Management Inc. Has $2.31 Million Stock Position in Pro-Dex, Inc. $PDEX

Punch & Associates Investment Management Inc. increased its holdings in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,000 shares of the medical instruments supplier’s stock after purchasing an additional 11,392 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.87% of Pro-Dex worth $2,309,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PDEX. Geode Capital Management LLC grew its stake in Pro-Dex by 93.2% during the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after purchasing an additional 24,927 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Pro-Dex by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after buying an additional 14,479 shares during the period. Jane Street Group LLC acquired a new stake in shares of Pro-Dex in the 1st quarter valued at about $321,000. LPL Financial LLC acquired a new stake in shares of Pro-Dex in the 4th quarter valued at about $228,000. Finally, First Trust Advisors LP acquired a new stake in shares of Pro-Dex in the 4th quarter valued at about $222,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Insiders Place Their Bets

In other Pro-Dex news, 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 owned 93,835 shares of the company’s stock, valued at $5,893,776.35. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 45.90% of the company’s stock.

Pro-Dex Price Performance

Shares of NASDAQ PDEX opened at $62.32 on Wednesday. Pro-Dex, Inc. has a fifty-two week low of $23.47 and a fifty-two week high of $68.99. The stock has a market cap of $198.80 million, a price-to-earnings ratio of 17.22 and a beta of -0.02. 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 firm’s 50-day simple moving average is $58.04 and its 200 day simple moving average is $48.00.

Pro-Dex (NASDAQ:PDEX) last announced 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 analysts’ expectations of $17.90 million. As a group, research analysts anticipate that Pro-Dex, Inc. will post 3.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Zacks Research upgraded Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen upgraded Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Ascendiant Capital Markets raised their target price 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 analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Pro-Dex presently has a consensus rating of “Hold” and an average price target of $70.00.

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.