Pro-Dex (NASDAQ:PDEX) Raised to “Strong-Buy” at StockNews.com

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

Separately, Ascendiant Capital Markets increased their target price on shares of Pro-Dex from $30.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Pro-Dex Trading Down 0.6 %

Shares of Pro-Dex stock opened at $49.44 on Friday. The stock has a market capitalization of $161.17 million, a P/E ratio of 32.10 and a beta of 0.56. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $40.23 and a 200 day simple moving average of $28.02. Pro-Dex has a 12-month low of $16.18 and a 12-month high of $54.84.

Insider Buying and Selling

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 shares were sold at an average price of $40.02, for a total value of $40,020.00. Following the completion of the sale, the chief financial officer now owns 15,339 shares in the company, valued at approximately $613,866.78. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 47.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Pro-Dex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock valued at $819,000 after acquiring an additional 2,296 shares in the last quarter. FMR LLC increased its position in 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 acquiring an additional 1,028 shares in the last quarter. Bard Associates Inc. increased its position in Pro-Dex by 17.6% in the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after acquiring an additional 2,031 shares in the last quarter. Renaissance Technologies LLC increased its position in Pro-Dex by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after acquiring an additional 900 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Pro-Dex by 5.1% in 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 in 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.