Key Points
- CEO Kirk Richard Lee Van, Jr. sold 19,235 Pro-Dex shares at an average price of $60.58, generating approximately $1.17 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 19.38% to 79,993 shares.
- Pro-Dex reported quarterly EPS of $0.87, beating the $0.67 consensus estimate, while revenue of $20.4 million exceeded expectations of $19.2 million.
- Analyst sentiment is moderately bullish, with two Buy ratings and one Hold rating and an average price target of $70; institutional investors own 15.28% of the company.
Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) CFO Alisha Charlton sold 2,300 shares of the stock in a transaction 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 $1,340,631. The trade was a 9.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Pro-Dex Trading Down 1.4%
PDEX stock opened at $59.84 on Friday. The company has a market cap of $191.49 million, a P/E ratio of 14.49 and a beta of 0.06. Pro-Dex, Inc. has a twelve month low of $23.47 and a twelve month high of $77.00. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $62.39 and a 200-day moving average of $57.68.
Pro-Dex (NASDAQ:PDEX - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.20. The business had revenue of $20.40 million for the quarter, compared to analysts' expectations of $19.20 million. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. As a group, equities research analysts expect that Pro-Dex, Inc. will post 2.78 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on PDEX. Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Zacks Research raised shares of Pro-Dex to a "hold" rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings upgraded shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.00.
View Our Latest Report on Pro-Dex
Institutional Investors Weigh In On Pro-Dex
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. lifted its stake in Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier's stock valued at $3,032,000 after buying an additional 1,735 shares during the period. Geode Capital Management LLC grew its position in shares of Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier's stock worth $2,255,000 after buying an additional 24,927 shares during the period. JPMorgan Chase & Co. grew its position in shares of Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier's stock worth $1,566,000 after buying an additional 14,479 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the 2nd quarter valued at about $678,000. Finally, Osaic Holdings Inc. increased its stake in shares of 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. Institutional investors own 15.28% of the company's stock.
About Pro-Dex
(
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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