Pro-Dex (NASDAQ:PDEX) CEO Sells $45,410.40 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 765 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $59.36, for a total transaction of $45,410.40. Following the completion of the sale, the chief executive officer directly owned 79,228 shares of the company’s stock, valued at approximately $4,702,974.08. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Price Performance

Shares of Pro-Dex stock traded up $3.75 during mid-day trading on Monday, reaching $66.56. 126,003 shares of the stock traded hands, compared to its average volume of 63,089. The business has a 50-day moving average of $62.51 and a 200 day moving average of $58.01. Pro-Dex, Inc. has a fifty-two week low of $23.47 and a fifty-two week high of $77.00. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $212.99 million, a PE ratio of 16.12 and a beta of 0.06.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.20. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. The company had revenue of $20.40 million for the quarter, compared to analysts’ expectations of $19.20 million. On average, analysts predict that Pro-Dex, Inc. will post 2.78 EPS for the current year.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in shares of Pro-Dex during the 2nd quarter worth approximately $99,000. Navellier & Associates Inc. acquired a new stake in shares of Pro-Dex during the second quarter worth $322,000. Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex in the 2nd quarter worth $678,000. Corsair Capital Management L.P. purchased a new position in shares of Pro-Dex during the 1st quarter worth approximately $532,000. Finally, Punch & Associates Investment Management Inc. grew its holdings 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 worth $3,032,000 after acquiring an additional 1,735 shares during the period. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on PDEX. Weiss Ratings upgraded shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research upgraded shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Finally, Ascendiant Capital Markets upped their price target on Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.00.

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.