Pro-Dex (NASDAQ:PDEX) Lowered to "Buy" Rating by StockNews.com

StockNews.com downgraded shares of Pro-Dex (NASDAQ:PDEX - Free Report) from a strong-buy rating to a buy rating in a research report released on Monday morning.

Separately, Ascendiant Capital Markets increased their price objective on Pro-Dex from $30.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, November 11th.

Pro-Dex Price Performance

PDEX traded down $0.75 during midday trading on Monday, hitting $33.59. The stock had a trading volume of 22,909 shares, compared to its average volume of 32,867. The company has a market cap of $109.50 million, a P/E ratio of 16.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex has a 1 year low of $16.18 and a 1 year high of $59.60. The business has a fifty day moving average of $46.13 and a 200 day moving average of $34.94.

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

Insider Activity at Pro-Dex

In other news, Director Raymond E. Cabillot sold 1,200 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $47.76, for a total value of $57,312.00. Following the transaction, the director now owns 359,646 shares in the company, valued at approximately $17,176,692.96. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 27,770 shares of company stock worth $1,239,312 over the last ninety days. 47.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Pro-Dex by 34.9% in the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier's stock worth $119,000 after purchasing an additional 1,028 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Pro-Dex during the 4th quarter valued at about $202,000. Renaissance Technologies LLC grew its stake in shares of Pro-Dex by 7.9% in the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier's stock worth $240,000 after acquiring an additional 900 shares during the period. Bard Associates Inc. raised its holdings in shares of Pro-Dex by 17.6% during the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier's stock valued at $406,000 after purchasing an additional 2,031 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in Pro-Dex during the fourth quarter valued at approximately $572,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Pro-Dex Company 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.