Insider Selling: Pro-Dex (NASDAQ:PDEX) Director Sells $47,145.52 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) Director Angelita Rebamontan Domingo sold 998 shares of Pro-Dex stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.24, for a total value of $47,145.52. Following the completion of the sale, the director owned 18,779 shares of the company’s stock, valued at approximately $887,119.96. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Pro-Dex Stock Performance

Shares of NASDAQ:PDEX opened at $59.08 on Friday. The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $68.99. The stock has a market capitalization of $188.47 million, a P/E ratio of 16.32 and a beta of 0.01. The business has a 50-day moving average price of $62.17 and a two-hundred day moving average price of $51.20.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.58. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. The company had revenue of $19.95 million for the quarter, compared to analyst estimates of $17.90 million. Equities analysts predict that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Wall Street Zen raised Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Zacks Research upgraded Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Finally, Ascendiant Capital Markets lifted their price objective on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.00.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors and hedge funds have recently made changes to their positions in PDEX. Los Angeles Capital Management LLC acquired a new stake in Pro-Dex during the 4th quarter worth $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pro-Dex in the second quarter valued at about $50,000. Bank of America Corp DE increased its holdings in shares of Pro-Dex by 173.3% in the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 1,073 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Pro-Dex by 65.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after acquiring an additional 915 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Pro-Dex during the second quarter worth about $105,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

About Pro-Dex

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.