Ascendiant Capital Markets Issues Positive Forecast for Pro-Dex (NASDAQ:PDEX) Stock Price

Pro-Dex (NASDAQ:PDEX) had its price objective increased by equities researchers at Ascendiant Capital Markets from $30.00 to $52.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Ascendiant Capital Markets’ price target would indicate a potential upside of 4.94% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $49.55 on Monday. Pro-Dex has a one year low of $15.70 and a one year high of $49.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.94 and a current ratio of 3.41. The company has a 50 day moving average price of $29.72 and a 200 day moving average price of $22.98. The firm has a market capitalization of $161.53 million, a price-to-earnings ratio of 30.74 and a beta of 0.39.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data 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. Pro-Dex had a net margin of 9.17% and a return on equity of 16.74%. The company had revenue of $15.03 million during the quarter. Sell-side analysts anticipate that Pro-Dex will post 1.42 EPS for the current year.

Insider Activity

In other news, CFO Alisha Charlton sold 1,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 15,339 shares in the company, valued at approximately $613,866.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

Institutional investors and hedge funds have recently modified their holdings of the business. 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 worth $240,000 after purchasing an additional 900 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pro-Dex by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after purchasing an additional 3,067 shares during the period. Bard Associates Inc. raised its holdings in shares of Pro-Dex by 17.6% during the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after purchasing an additional 2,031 shares during the period. Finally, Perritt Capital Management Inc. raised its holdings in shares of 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 worth $106,000 after purchasing an additional 1,813 shares during the period. 15.28% of the stock is owned by institutional investors and hedge funds.

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.