Pro-Dex, Inc. $PDEX Shares Newly Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC purchased a new position in shares of Pro-Dex, Inc. (NASDAQ:PDEX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,904 shares of the medical instruments supplier’s stock, valued at approximately $1,166,000. Ellsworth Advisors LLC owned 0.52% of Pro-Dex as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. grew its stake in shares of Pro-Dex by 2.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock valued at $3,032,000 after purchasing an additional 1,735 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Pro-Dex in the 2nd quarter worth approximately $678,000. Corsair Capital Management L.P. acquired a new position in shares of Pro-Dex in the 1st quarter worth approximately $532,000. Morgan Dempsey Capital Management LLC raised its holdings in shares of Pro-Dex by 6.2% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after buying an additional 339 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in shares of Pro-Dex during the 2nd quarter worth approximately $322,000. 15.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pro-Dex

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $59.36, for a total transaction of $45,410.40. Following the sale, the chief executive officer owned 79,228 shares of the company’s stock, valued at $4,702,974.08. This represents a 0.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alisha Charlton sold 2,300 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total transaction of $140,990.00. Following the completion of the sale, the chief financial officer owned 21,870 shares of the company’s stock, valued at $1,340,631. The trade was a 9.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,300 shares of company stock worth $1,351,657. Insiders own 48.00% of the company’s stock.

Pro-Dex Price Performance

Pro-Dex stock opened at $60.02 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10. The firm has a market cap of $193.86 million, a P/E ratio of 14.53 and a beta of 0.04. The business’s fifty day moving average is $66.27 and its two-hundred day moving average is $61.25. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week high of $77.00.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, topping the consensus estimate of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. The company had revenue of $20.41 million for the quarter, compared to analysts’ expectations of $19.20 million. Equities research analysts forecast that Pro-Dex, Inc. will post 3.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on PDEX shares. Ascendiant Capital Markets boosted their price target on Pro-Dex from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Zacks Research upgraded Pro-Dex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, Pro-Dex presently has an average rating of “Buy” and a consensus price target of $74.00.

About Pro-Dex

Pro-Dex, Inc is a medical device company that designs, develops and manufactures powered surgical instruments and related equipment. Its products are primarily used in orthopedic, dental and other surgical procedures, where precision, reliability and controlled power are important.

The company supplies instruments and components to original equipment manufacturers and other medical device customers. Its capabilities include product design and development, engineering, manufacturing, assembly and related support services.