Kirk Richard Lee Van, Jr. Sells 5,872 Shares of Pro-Dex (NASDAQ:PDEX) Stock

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total transaction of $368,820.32. Following the sale, the chief executive officer owned 93,835 shares of the company’s stock, valued at $5,893,776.35. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Performance

Shares of Pro-Dex stock opened at $64.58 on Thursday. The firm has a fifty day moving average of $53.72 and a two-hundred day moving average of $44.80. The stock has a market capitalization of $206.01 million, a price-to-earnings ratio of 17.84 and a beta of -0.12. Pro-Dex, Inc. has a 52 week low of $23.47 and a 52 week high of $66.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating the consensus estimate of $0.62 by $0.58. The company had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. As a group, equities research analysts predict that Pro-Dex, Inc. will post 3.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Finally, Ascendiant Capital Markets boosted their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Pro-Dex has a consensus rating of “Hold” and an average price target of $70.00.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors and hedge funds have recently made changes to their positions in PDEX. Cubist Systematic Strategies LLC acquired a new position in shares of Pro-Dex in the 1st quarter valued at $170,000. Jane Street Group LLC acquired a new position in Pro-Dex in the 1st quarter worth $321,000. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 24,927 shares during the period. JPMorgan Chase & Co. boosted its stake in Pro-Dex by 67.7% in the 2nd 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. Finally, New York State Common Retirement Fund acquired a new position in Pro-Dex in the 2nd quarter worth $105,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.