683 Capital Management LLC Makes New $739,000 Investment in Pro-Dex, Inc. (NASDAQ:PDEX)

683 Capital Management LLC bought a new stake in Pro-Dex, Inc. (NASDAQ:PDEX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,798 shares of the medical instruments supplier's stock, valued at approximately $739,000. 683 Capital Management LLC owned 0.48% of Pro-Dex at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in Pro-Dex during the 4th quarter valued at about $202,000. Trexquant Investment LP purchased a new stake in shares of Pro-Dex in the fourth quarter worth approximately $252,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Pro-Dex in the fourth quarter worth approximately $254,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Pro-Dex during the 4th quarter worth approximately $255,000. Finally, Russell Investments Group Ltd. purchased a new position in Pro-Dex during the 4th quarter valued at $327,000. Institutional investors own 15.28% of the company's stock.

Pro-Dex Trading Down 1.5 %

PDEX stock traded down $0.67 during mid-day trading on Wednesday, reaching $44.13. The company had a trading volume of 20,365 shares, compared to its average volume of 28,143. The firm has a 50 day moving average of $52.62 and a 200 day moving average of $45.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. Pro-Dex, Inc. has a 12 month low of $16.84 and a 12 month high of $70.26. The company has a market capitalization of $143.91 million, a PE ratio of 21.96 and a beta of 0.37.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.98 EPS for the quarter, topping the consensus estimate of $0.47 by $0.51. The company had revenue of $17.41 million for the quarter, compared to the consensus estimate of $17.70 million. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. On average, equities analysts predict that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling at Pro-Dex

In other news, Director Raymond E. Cabillot sold 3,096 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $50.13, for a total transaction of $155,202.48. Following the transaction, the director now directly owns 279,787 shares of the company's stock, valued at approximately $14,025,722.31. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 21,383 shares of company stock worth $1,031,182 over the last quarter. Insiders own 47.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Pro-Dex from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th.

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.