Bard Associates Inc. Boosts Stake in Pro-Dex, Inc. (NASDAQ:PDEX)

Bard Associates Inc. increased its holdings in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 17.6% during the third quarter, HoldingsChannel reports. The firm owned 13,596 shares of the medical instruments supplier’s stock after buying an additional 2,031 shares during the period. Bard Associates Inc.’s holdings in Pro-Dex were worth $406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PDEX. Dimensional Fund Advisors LP lifted its stake in Pro-Dex by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after acquiring an additional 3,067 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after purchasing an additional 900 shares during the last quarter. Finally, Perritt Capital Management Inc. lifted its position in Pro-Dex by 43.3% during the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,813 shares during the period. 15.28% of the stock is owned by hedge funds and other institutional investors.

Pro-Dex Stock Up 1.8 %

Shares of PDEX stock opened at $47.81 on Friday. The company has a current ratio of 3.41, a quick ratio of 1.94 and a debt-to-equity ratio of 0.36. Pro-Dex, Inc. has a 12 month low of $15.70 and a 12 month high of $49.98. The stock has a market cap of $155.86 million, a P/E ratio of 31.05 and a beta of 0.39. The company has a 50 day simple moving average of $30.77 and a two-hundred day simple moving average of $23.36.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $15.03 million during the quarter. Pro-Dex had a net margin of 9.17% and a return on equity of 16.74%. On average, research analysts expect that Pro-Dex, Inc. will post 1.42 earnings per share for the current year.

Insider Activity at Pro-Dex

In other Pro-Dex news, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $40.02, for a total transaction of $40,020.00. Following the sale, the chief financial officer now directly owns 15,339 shares of the company’s stock, valued at $613,866.78. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 47.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PDEX. Ascendiant Capital Markets boosted their target price on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com raised Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.