Pro-Dex (NASDAQ:PDEX) CEO Kirk Richard Lee Van Jr Sells 4,128 Shares

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total transaction of $257,422.08. Following the completion of the sale, the chief executive officer directly owned 89,707 shares in the company, valued at $5,594,128.52. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Trading Up 2.6%

Shares of Pro-Dex stock traded up $1.63 on Tuesday, reaching $65.15. The company had a trading volume of 55,396 shares, compared to its average volume of 29,868. The firm’s 50 day moving average price is $53.42 and its two-hundred day moving average price is $44.58. The firm has a market cap of $207.83 million, a PE ratio of 18.00 and a beta of -0.12. Pro-Dex, Inc. has a 52-week low of $23.47 and a 52-week high of $65.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.58. The firm had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. Sell-side analysts predict that Pro-Dex, Inc. will post 3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDEX. Cubist Systematic Strategies LLC acquired a new position in Pro-Dex during the 1st quarter worth approximately $170,000. Jane Street Group LLC acquired a new position in Pro-Dex during the 1st quarter worth approximately $321,000. Geode Capital Management LLC grew its holdings in Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after acquiring an additional 14,479 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Pro-Dex during the 2nd quarter worth approximately $105,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Analysts Set New Price Targets

PDEX has been the subject of a number of 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 lifted their price objective on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.