Corsair Capital Management L.P. Buys Shares of 10,835 Pro-Dex, Inc. $PDEX

Corsair Capital Management L.P. bought a new stake in shares of Pro-Dex, Inc. (NASDAQ:PDEX) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,835 shares of the medical instruments supplier’s stock, valued at approximately $532,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PDEX. Punch & Associates Investment Management Inc. lifted its stake in shares of Pro-Dex by 2.9% during the 1st 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 last quarter. Morgan Dempsey Capital Management LLC boosted its holdings in Pro-Dex by 6.2% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock valued at $286,000 after acquiring an additional 339 shares during the period. Quadrature Capital Ltd bought a new position in Pro-Dex in the 4th quarter valued at $220,000. Osaic Holdings Inc. grew its position in Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock valued at $440,000 after acquiring an additional 3,540 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Pro-Dex by 603.4% in the 4th quarter. Royal Bank of Canada now owns 4,080 shares of the medical instruments supplier’s stock valued at $157,000 after acquiring an additional 3,500 shares during the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Pro-Dex

In related news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total value of $368,820.32. Following the completion of the transaction, the chief executive officer owned 93,835 shares of the company’s stock, valued at $5,893,776.35. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PDEX shares. Zacks Research upgraded Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Ascendiant Capital Markets upped their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Pro-Dex from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Pro-Dex has a consensus rating of “Hold” and an average target price of $70.00.

Pro-Dex Stock Performance

PDEX stock opened at $54.93 on Monday. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $68.99. The business has a 50-day moving average price of $61.84 and a 200 day moving average price of $51.90. The company has a market capitalization of $175.23 million, a P/E ratio of 15.17 and a beta of 0.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14.

Pro-Dex (NASDAQ:PDEX) last posted its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.90 million. As a group, equities research analysts forecast that Pro-Dex, Inc. will post 3.16 EPS for the current fiscal year.

Pro-Dex 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.