Pro-Dex (NASDAQ:PDEX) Price Target Raised to $70.00 at Ascendiant Capital Markets

Pro-Dex (NASDAQ:PDEX) had its price target boosted by Ascendiant Capital Markets from $56.00 to $70.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pro-Dex in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Pro-Dex Stock Down 0.0%

NASDAQ PDEX opened at $56.50 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. The company’s 50 day simple moving average is $50.45 and its 200 day simple moving average is $42.47. Pro-Dex has a 12 month low of $23.47 and a 12 month high of $61.62. The company has a market capitalization of $180.24 million, a P/E ratio of 15.61 and a beta of -0.12.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.58. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. The business had revenue of $19.95 million for the quarter, compared to the consensus estimate of $17.90 million.

Hedge Funds Weigh In On Pro-Dex

Large investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of Pro-Dex during the 4th quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Pro-Dex during the 2nd quarter worth about $50,000. AlphaQuest LLC acquired a new stake in shares of Pro-Dex during the 3rd quarter worth about $71,000. Bank of America Corp DE increased its position in shares of Pro-Dex by 173.3% during the 2nd quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 1,073 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Pro-Dex by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after purchasing an additional 915 shares in the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.