Pro-Dex, Inc. $PDEX Shares Sold by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Pro-Dex, Inc. by 15.6%, holding 54,000 shares worth approximately $2.68 million by the end of the first quarter.
• Pro-Dex's stock rating has been cut from "buy" to "hold" by Wall Street Zen, although the company maintains a consensus "buy" rating with a target price of $56.00 from Ascendiant Capital Markets.
• Pro-Dex reported a missed earnings estimate in its latest quarterly results, with EPS of $0.36 below the anticipated $0.47, reflecting a revenue of $17.49 million against estimates of $17.90 million.

Punch & Associates Investment Management Inc. trimmed its holdings in shares of Pro-Dex, Inc. (NASDAQ:PDEX - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,000 shares of the medical instruments supplier's stock after selling 10,000 shares during the period. Punch & Associates Investment Management Inc. owned about 1.66% of Pro-Dex worth $2,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. lifted its position in Pro-Dex by 3.0% during the first quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier's stock valued at $610,000 after buying an additional 355 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Pro-Dex by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 6,415 shares of the medical instruments supplier's stock valued at $318,000 after buying an additional 2,096 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Pro-Dex during the first quarter valued at approximately $170,000. Ritholtz Wealth Management lifted its position in Pro-Dex by 30.3% during the first quarter. Ritholtz Wealth Management now owns 15,944 shares of the medical instruments supplier's stock valued at $791,000 after buying an additional 3,711 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Pro-Dex by 14.1% during the fourth quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier's stock valued at $1,672,000 after buying an additional 4,426 shares in the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Pro-Dex from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Ascendiant Capital Markets boosted their target price on shares of Pro-Dex from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $56.00.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $38.19 on Friday. Pro-Dex, Inc. has a 12 month low of $22.00 and a 12 month high of $70.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 1.45. The firm has a market capitalization of $124.50 million, a P/E ratio of 14.14 and a beta of -0.04. The company's fifty day moving average price is $46.18 and its two-hundred day moving average price is $46.88.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The medical instruments supplier reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.11). Pro-Dex had a return on equity of 27.49% and a net margin of 13.48%.The firm had revenue of $17.49 million during the quarter, compared to analyst estimates of $17.90 million. On average, research analysts anticipate that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Pro-Dex Profile

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.

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