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

Pro-Dex, Inc. (NASDAQ:PDEX) CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 79,993 shares of the company’s stock, valued at approximately $4,845,975.94. The trade was a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Stock Down 1.4%

Pro-Dex stock traded down $0.86 during midday trading on Thursday, hitting $59.84. 65,560 shares of the stock were exchanged, compared to its average volume of 63,778. Pro-Dex, Inc. has a 52-week low of $23.47 and a 52-week high of $77.00. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $62.39 and its 200-day moving average price is $57.68. The stock 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 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. The firm had revenue of $20.40 million for the quarter, compared to analysts’ expectations of $19.20 million. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. On average, research analysts expect that Pro-Dex, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of 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 given a Hold rating to the company’s stock. According to MarketBeat, Pro-Dex has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Hedge Funds Weigh In On Pro-Dex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new position in shares of Pro-Dex during the second quarter worth approximately $99,000. Navellier & Associates Inc. bought a new stake in Pro-Dex during the 2nd quarter valued at $322,000. Bank of New York Mellon Corp bought a new stake in Pro-Dex in the 2nd quarter worth $678,000. Corsair Capital Management L.P. purchased a new position in shares of Pro-Dex in the first quarter valued at about $532,000. Finally, Punch & Associates Investment Management Inc. raised its position in Pro-Dex by 2.9% during 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 last quarter. Hedge funds and other institutional investors 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.