Insider Selling: Pro-Dex (NASDAQ:PDEX) CFO Sells $140,990.00 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CFO Alisha Charlton sold 2,300 shares of the company’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 owned 21,870 shares in the company, valued at approximately $1,340,631. The trade was a 9.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Pro-Dex Price Performance

Shares of NASDAQ PDEX opened at $62.81 on Friday. The stock has a fifty day simple moving average of $62.42 and a two-hundred day simple moving average of $57.71. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $77.00. The firm has a market cap of $201.18 million, a price-to-earnings ratio of 15.21 and a beta of 0.06. The company has a current ratio of 4.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.28.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $19.20 million. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. Analysts anticipate that Pro-Dex, Inc. will post 2.78 earnings per share for the current year.

Hedge Funds Weigh In On Pro-Dex

A number of large investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. raised 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 valued at $3,032,000 after purchasing an additional 1,735 shares during the period. Geode Capital Management LLC boosted its stake in Pro-Dex by 93.2% in the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after purchasing an additional 24,927 shares during the period. 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 valued at $1,566,000 after buying an additional 14,479 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Pro-Dex during the 2nd quarter valued at about $678,000. Finally, Osaic Holdings Inc. grew its holdings in Pro-Dex by 44.8% during the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock valued at $440,000 after buying an additional 3,540 shares in the last quarter. 15.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PDEX has been the subject of several recent research reports. Weiss Ratings raised Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Ascendiant Capital Markets lifted their target price on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.00.

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.