Pro-Dex (NASDAQ:PDEX) Upgraded to Strong-Buy by StockNews.com

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

Pro-Dex Stock Performance

PDEX opened at $23.28 on Friday. Pro-Dex has a 52-week low of $14.51 and a 52-week high of $24.74. The firm has a market capitalization of $79.62 million, a PE ratio of 40.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 3.45. The business’s 50-day simple moving average is $19.73 and its 200 day simple moving average is $18.85.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The business had revenue of $15.03 million for the quarter. Pro-Dex had a return on equity of 6.50% and a net margin of 4.13%.

Insiders Place Their Bets

In other Pro-Dex news, Director Angelita Rebamontan Domingo sold 2,585 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $18.30, for a total transaction of $47,305.50. Following the transaction, the director now owns 8,191 shares of the company’s stock, valued at $149,895.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 42.60% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors and hedge funds have recently made changes to their positions in PDEX. Perritt Capital Management Inc. grew its position in shares of Pro-Dex by 43.3% in 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 last quarter. Renaissance Technologies LLC grew its position in shares of Pro-Dex by 7.9% in 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, Dimensional Fund Advisors LP grew its position in shares of Pro-Dex by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after purchasing an additional 3,067 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.