Pro-Dex (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. Sells 4,128 Shares of Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total value of $257,422.08. Following the sale, the chief executive officer owned 89,707 shares in the company, valued at $5,594,128.52. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Performance

NASDAQ:PDEX opened at $65.15 on Wednesday. The stock’s fifty day moving average is $53.42 and its 200 day moving average is $44.58. Pro-Dex, Inc. has a fifty-two week low of $23.47 and a fifty-two week high of $65.88. The firm has a market capitalization of $207.83 million, a PE ratio of 18.00 and a beta of -0.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

Pro-Dex (NASDAQ:PDEX) last released its quarterly 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. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.The company had revenue of $19.95 million for the quarter, compared to analyst estimates of $17.90 million. On average, sell-side analysts anticipate that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on PDEX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Ascendiant Capital Markets increased their target price on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.00.

Institutional Trading of Pro-Dex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC increased its stake in shares of Pro-Dex by 6.2% during the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 339 shares during the period. Wells Fargo & Company MN increased its stake in shares of Pro-Dex by 65.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock valued at $89,000 after buying an additional 915 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Pro-Dex during the fourth quarter valued at $37,000. Bank of America Corp DE increased its stake in shares of Pro-Dex by 173.3% during the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock valued at $74,000 after buying an additional 1,073 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pro-Dex during the second quarter valued at $50,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.