Pro-Dex (NASDAQ:PDEX) Upgraded by Wall Street Zen to “Buy” Rating

Pro-Dex (NASDAQ:PDEX) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

PDEX has been the topic of several other reports. Zacks Research raised Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Finally, Ascendiant Capital Markets boosted their price target on Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.00.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $62.20 on Friday. The business’s 50 day simple moving average is $57.59 and its 200 day simple moving average is $47.52. Pro-Dex has a one year low of $23.47 and a one year high of $68.99. The stock has a market capitalization of $198.42 million, a PE ratio of 17.18 and a beta of -0.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) 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 firm had revenue of $19.95 million for the quarter, compared to analyst estimates of $17.90 million. As a group, research analysts forecast that Pro-Dex will post 3.16 earnings per share for the current year.

Insider Buying and Selling at Pro-Dex

In other news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $62.81, for a total transaction of $368,820.32. Following the transaction, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at $5,893,776.35. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently bought and sold shares of the stock. Corsair Capital Management L.P. bought a new stake in Pro-Dex during the first quarter worth $532,000. Punch & Associates Investment Management Inc. grew its holdings in 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. Morgan Dempsey Capital Management LLC grew its holdings in 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 worth $286,000 after buying an additional 339 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Pro-Dex during the fourth quarter worth $220,000. Finally, Osaic Holdings Inc. grew its holdings in Pro-Dex by 44.8% during the fourth quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock worth $440,000 after buying an additional 3,540 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.