Pro-Dex (NASDAQ:PDEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Pro-Dex (NASDAQ:PDEX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

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

Pro-Dex Stock Performance

Shares of PDEX opened at $48.48 on Friday. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. Pro-Dex has a 52-week low of $16.18 and a 52-week high of $54.84. The company has a 50-day simple moving average of $40.64 and a 200-day simple moving average of $28.23. The company has a market capitalization of $158.00 million, a PE ratio of 31.48 and a beta of 0.56.

Insider Buying and Selling at Pro-Dex

In other Pro-Dex news, CFO Alisha Charlton sold 1,000 shares of the company’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 sale, the chief financial officer now owns 15,339 shares of the company’s stock, valued at $613,866.78. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 47.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PDEX. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 3,067 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Pro-Dex by 9.1% in the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after acquiring an additional 2,296 shares during the last quarter. Bard Associates Inc. lifted its position in shares of Pro-Dex by 17.6% in the third 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 boosted its stake 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 valued at $240,000 after acquiring an additional 900 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Pro-Dex by 34.9% during the third 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 during the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.