Renaissance Technologies LLC Raises Stake in Pro-Dex, Inc. (NASDAQ:PDEX)

Renaissance Technologies LLC increased its position in Pro-Dex, Inc. (NASDAQ:PDEX) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,240 shares of the medical instruments supplier’s stock after purchasing an additional 900 shares during the period. Renaissance Technologies LLC’s holdings in Pro-Dex were worth $240,000 at the end of the most recent reporting period.

Separately, Perritt Capital Management Inc. raised its holdings in Pro-Dex by 43.3% in the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after acquiring an additional 1,813 shares during the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PDEX shares. StockNews.com upgraded shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Ascendiant Capital Markets raised their target price on Pro-Dex from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 9th.

Pro-Dex Trading Up 0.9 %

Shares of PDEX stock opened at $29.39 on Friday. The company has a market cap of $100.48 million, a price-to-earnings ratio of 50.67 and a beta of 0.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.84 and a quick ratio of 1.66. The firm has a fifty day moving average price of $24.35 and a 200-day moving average price of $20.75. Pro-Dex, Inc. has a 1 year low of $14.51 and a 1 year high of $34.04.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. Pro-Dex had a net margin of 3.95% and a return on equity of 6.82%. The firm had revenue of $15.03 million during the quarter. As a group, equities analysts predict that Pro-Dex, Inc. will post 1.42 earnings per share for the current year.

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.