Pro-Dex (NASDAQ:PDEX) Downgraded by StockNews.com

Pro-Dex (NASDAQ:PDEXGet Free Report) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Pro-Dex Price Performance

Pro-Dex stock opened at $17.60 on Tuesday. The company’s fifty day moving average price is $19.24 and its 200 day moving average price is $17.54. Pro-Dex has a 1 year low of $14.51 and a 1 year high of $22.99. The stock has a market capitalization of $61.79 million, a P/E ratio of 23.47 and a beta of 0.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.16 and a current ratio of 3.66.

Institutional Investors Weigh In On Pro-Dex

A number of institutional investors have recently added to or reduced their stakes in PDEX. Tower Research Capital LLC TRC grew its stake in Pro-Dex by 345.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier’s stock valued at $48,000 after acquiring an additional 2,084 shares during the period. Perritt Capital Management Inc. purchased a new position in Pro-Dex in the 4th quarter valued at $73,000. UBS Group AG lifted its holdings in Pro-Dex by 421.5% in the 1st quarter. UBS Group AG now owns 5,867 shares of the medical instruments supplier’s stock valued at $96,000 after purchasing an additional 4,742 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Pro-Dex in the 2nd quarter valued at $168,000. Finally, State Street Corp lifted its holdings in Pro-Dex by 5.8% in the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock valued at $197,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 14.78% of the company’s stock.

Pro-Dex Company Profile

(Get Free Report)

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.

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