Pro-Dex (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. Sells 19,235 Shares of Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $60.58, for a total transaction of $1,165,256.30. Following the completion of the transaction, the chief executive officer directly owned 79,993 shares of the company’s stock, valued at approximately $4,845,975.94. This trade represents a 19.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Down 1.4%

Pro-Dex stock opened at $59.84 on Friday. The firm has a 50 day simple moving average of $62.39 and a 200 day simple moving average of $57.68. The company has a current ratio of 4.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.28. Pro-Dex, Inc. has a 1-year low of $23.47 and a 1-year high of $77.00. The firm has a market capitalization of $191.49 million, a price-to-earnings ratio of 14.49 and a beta of 0.06.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The firm had revenue of $20.40 million during the quarter, compared to analyst estimates of $19.20 million. On average, analysts predict that Pro-Dex, Inc. will post 2.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PDEX. Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Zacks Research upgraded Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PDEX. Geode Capital Management LLC raised its position in shares of Pro-Dex by 93.2% in the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Pro-Dex by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after purchasing an additional 14,479 shares during the period. Punch & Associates Investment Management Inc. lifted its position in Pro-Dex by 42.1% during the third quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after buying an additional 14,408 shares during the period. Bank of New York Mellon Corp purchased a new position in Pro-Dex during the second quarter valued at $678,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of Pro-Dex during the 1st quarter valued at $532,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

About Pro-Dex

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.