Arrowstreet Capital Limited Partnership Invests $255,000 in Pro-Dex, Inc. (NASDAQ:PDEX)

Arrowstreet Capital Limited Partnership bought a new stake in Pro-Dex, Inc. (NASDAQ:PDEX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,448 shares of the medical instruments supplier's stock, valued at approximately $255,000. Arrowstreet Capital Limited Partnership owned approximately 0.17% of Pro-Dex as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. purchased a new stake in shares of Pro-Dex in the fourth quarter valued at about $558,000. Bank of New York Mellon Corp purchased a new stake in shares of Pro-Dex in the 4th quarter valued at approximately $202,000. Ritholtz Wealth Management acquired a new stake in shares of Pro-Dex during the 4th quarter worth approximately $572,000. JPMorgan Chase & Co. increased its holdings in shares of Pro-Dex by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier's stock worth $740,000 after buying an additional 529 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Pro-Dex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier's stock valued at $819,000 after buying an additional 2,296 shares during the period. 15.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut Pro-Dex from a "buy" rating to a "hold" rating in a research note on Wednesday, March 12th.

Pro-Dex Trading Down 0.8 %

NASDAQ PDEX traded down $0.50 during trading hours on Friday, reaching $60.83. The company had a trading volume of 31,110 shares, compared to its average volume of 24,786. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $198.37 million, a P/E ratio of 30.26 and a beta of 0.40. The stock has a 50-day moving average of $46.39 and a 200 day moving average of $43.29. Pro-Dex, Inc. has a 1-year low of $16.84 and a 1-year high of $65.87.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. As a group, research analysts anticipate that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Raymond E. Cabillot sold 836 shares of Pro-Dex stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $50.00, for a total value of $41,800.00. Following the completion of the transaction, the director now owns 278,109 shares in the company, valued at $13,905,450. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 35,630 shares of company stock worth $1,653,248 over the last 90 days. Corporate insiders own 47.50% of the company's stock.

About Pro-Dex

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.