Key Points
- Director Angelita Rebamontan Domingo sold 998 Pro-Dex shares on March 16 at an average price of $47.24, worth about $47,146. After the sale, she still owned 18,779 shares.
- Pro-Dex reported better-than-expected quarterly results, with earnings of $1.20 per share versus the $0.62 estimate and revenue of $19.95 million versus $17.90 million expected. The company also posted a 22.78% return on equity and 16.08% net margin.
- Analysts remain cautiously positive on the stock, with an average rating of “Moderate Buy” and a consensus price target of $70.00. Recent upgrades came from Wall Street Zen, Weiss Ratings, and Ascendiant Capital Markets.
Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) Director Angelita Rebamontan Domingo sold 998 shares of the business's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.24, for a total transaction of $47,145.52. Following the completion of the sale, the director owned 18,779 shares of the company's stock, valued at $887,119.96. The trade was a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Pro-Dex Price Performance
NASDAQ PDEX opened at $58.26 on Wednesday. Pro-Dex, Inc. has a 1 year low of $23.47 and a 1 year high of $68.99. The company has a fifty day simple moving average of $62.18 and a 200 day simple moving average of $50.94. The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32. The company has a market cap of $185.85 million, a P/E ratio of 16.09 and a beta of 0.01.
Pro-Dex (NASDAQ:PDEX - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.58. The firm had revenue of $19.95 million during the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%. On average, sell-side analysts predict that Pro-Dex, Inc. will post 3.16 EPS for the current year.
Institutional Trading of Pro-Dex
Several large investors have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. increased its holdings in shares of Pro-Dex by 2.9% during the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier's stock worth $3,032,000 after buying an additional 1,735 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Pro-Dex by 67.7% in 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. Osaic Holdings Inc. grew its position 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 worth $440,000 after acquiring an additional 3,540 shares during the last quarter. Finally, Corsair Capital Management L.P. bought a new stake in Pro-Dex during the 1st quarter worth approximately $532,000. 15.28% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PDEX. Wall Street Zen upgraded shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Ascendiant Capital Markets upped their price objective on shares of Pro-Dex from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Pro-Dex to a "hold" rating in a research note on Tuesday, May 19th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.00.
Check Out Our Latest Report on Pro-Dex
Pro-Dex Company Profile
(
Get Free Report)
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.
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