Pro-Dex (NASDAQ:PDEX) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Pro-Dex (NASDAQ:PDEX) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks reports.

PDEX has been the subject of several other research reports. Weiss Ratings raised Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Ascendiant Capital Markets boosted their target price on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.00.

Pro-Dex Price Performance

NASDAQ:PDEX opened at $69.86 on Monday. Pro-Dex has a 52-week low of $28.81 and a 52-week high of $77.00. The company has a market cap of $223.55 million, a P/E ratio of 19.14 and a beta of 0.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.49 and a current ratio of 4.19. The stock’s 50-day simple moving average is $64.66 and its 200 day simple moving average is $57.26.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The firm had revenue of $20.56 million during the quarter, compared to the consensus estimate of $20.40 million. Pro-Dex had a return on equity of 26.18% and a net margin of 15.12%. As a group, sell-side analysts forecast that Pro-Dex will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling at Pro-Dex

In other news, CFO Alisha Charlton sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total value of $140,990.00. Following the completion of the transaction, the chief financial officer directly owned 21,870 shares in the company, valued at approximately $1,340,631. The trade was a 9.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 79,228 shares of the company’s stock, valued at approximately $4,702,974.08. This trade represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 22,300 shares of company stock worth $1,351,657. 48.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDEX. James Investment Research Inc. acquired a new stake in shares of Pro-Dex in the 3rd quarter valued at $207,000. Focus Financial Network Inc. acquired a new position in shares of Pro-Dex during the 3rd quarter worth $207,000. Morgan Dempsey Capital Management LLC raised its holdings in shares of 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 worth $286,000 after buying an additional 339 shares in the last quarter. Navellier & Associates Inc. bought a new stake in shares of Pro-Dex during the 2nd quarter worth $322,000. Finally, Ritholtz Wealth Management lifted its position in shares of Pro-Dex by 57.7% during the 3rd quarter. Ritholtz Wealth Management now owns 7,288 shares of the medical instruments supplier’s stock worth $503,000 after buying an additional 2,668 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Pro-Dex Company Profile

Pro-Dex, Inc. (NASDAQ:PDEX) designs, develops and manufactures powered surgical instruments and related products for the medical device industry. The company primarily serves original equipment manufacturers that incorporate Pro-Dex instruments into surgical systems sold under their own brands. Its products include battery-powered and pneumatic handpieces, rotary instruments, micro-drills, saws, controllers and other specialized equipment used in orthopedic, dental, ophthalmic and other surgical applications.