Key Points
- Pro-Dex CEO Kirk Richard Lee Van, Jr. sold 765 shares for $45,410 at an average price of $59.36 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 0.96% to 79,228 shares.
- Pro-Dex shares opened at $66.56, up 6.0%, and have traded between $23.47 and $77.00 over the past year. The company recently reported quarterly EPS of $0.87, beating estimates by $0.20, while revenue also exceeded expectations.
- Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and a $74 price target; institutional investors own 15.28% of the company.
Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) CEO Kirk Richard Lee Van, Jr. sold 765 shares of Pro-Dex stock in a transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Pro-Dex Stock Up 6.0%
Pro-Dex stock opened at $66.56 on Tuesday. The stock has a market cap of $212.99 million, a PE ratio of 16.12 and a beta of 0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.10 and a quick ratio of 2.45. The stock's fifty day moving average is $62.51 and its two-hundred day moving average is $58.01. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $77.00.
Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The business had revenue of $20.40 million for the quarter, compared to the consensus estimate of $19.20 million. On average, sell-side analysts expect that Pro-Dex, Inc. will post 2.78 EPS for the current fiscal year.
Institutional Investors Weigh In On Pro-Dex
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Pro-Dex during the second quarter worth approximately $678,000. Punch & Associates Investment Management Inc. raised its position in Pro-Dex by 23.4% in the 4th quarter. Punch & Associates Investment Management Inc. now owns 60,000 shares of the medical instruments supplier's stock valued at $2,309,000 after purchasing an additional 11,392 shares during the last quarter. Corsair Capital Management L.P. purchased a new stake in Pro-Dex in the 1st quarter valued at $532,000. Navellier & Associates Inc. acquired a new stake in Pro-Dex during the 2nd quarter worth $322,000. Finally, California State Teachers Retirement System acquired a new stake in Pro-Dex during the 2nd quarter worth $99,000. Hedge funds and other institutional investors own 15.28% of the company's stock.
Wall Street Analysts Forecast Growth
PDEX has been the topic of a number of research analyst reports. 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 note on Saturday, June 13th. Weiss Ratings raised shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Finally, Ascendiant Capital Markets upped their price objective on shares of Pro-Dex from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Pro-Dex currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.00.
View 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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