Pro-Dex (NASDAQ:PDEX) Rating Lowered to “Hold” at StockNews.com

Pro-Dex (NASDAQ:PDEX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Pro-Dex Trading Down 2.6 %

Shares of NASDAQ:PDEX traded down $1.25 during midday trading on Wednesday, reaching $46.53. 47,281 shares of the company’s stock were exchanged, compared to its average volume of 33,282. The firm’s 50 day simple moving average is $39.93 and its two-hundred day simple moving average is $37.82. Pro-Dex has a fifty-two week low of $16.83 and a fifty-two week high of $59.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. The stock has a market cap of $151.73 million, a price-to-earnings ratio of 23.15 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. As a group, sell-side analysts forecast that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Buying and Selling

In other Pro-Dex news, Director Raymond E. Cabillot sold 5,381 shares of Pro-Dex stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $41.64, for a total transaction of $224,064.84. Following the completion of the sale, the director now directly owns 319,752 shares of the company’s stock, valued at $13,314,473.28. The trade was a 1.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 35,444 shares of company stock worth $1,584,642. Corporate insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PDEX. JPMorgan Chase & Co. boosted its holdings in Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after purchasing an additional 529 shares in the last quarter. FMR LLC boosted its holdings in shares of Pro-Dex by 34.9% in the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock valued at $119,000 after buying an additional 1,028 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Pro-Dex by 8.1% in the 4th quarter. Renaissance Technologies LLC now owns 14,740 shares of the medical instruments supplier’s stock valued at $689,000 after buying an additional 1,100 shares during the last quarter. Bard Associates Inc. raised its stake in Pro-Dex by 17.6% during the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Pro-Dex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after acquiring an additional 2,296 shares in the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Pro-Dex

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.