Alisha Charlton Sells 2,300 Shares of Pro-Dex (NASDAQ:PDEX) Stock

Key Points

• Pro-Dex CFO Alisha Charlton sold 2,300 shares at an average price of $61.30, totaling $140,990. After the transaction, she retained 21,870 shares, a 9.52% reduction in her holdings.
• Pro-Dex shares fell 1.4% to $59.84, while the company recently reported quarterly earnings of $0.87 per share and revenue of $20.4 million—beating analyst estimates.
• Analyst sentiment is favorable, with Pro-Dex holding a “Moderate Buy” consensus rating and an average price target of $70, compared with its recent trading price.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) CFO Alisha Charlton sold 2,300 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total transaction of $140,990.00. Following the sale, the chief financial officer directly owned 21,870 shares of the company's stock, valued at $1,340,631. The trade was a 9.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Pro-Dex Trading Down 1.4%

Shares of NASDAQ:PDEX traded down $0.86 during midday trading on Thursday, hitting $59.84. 65,560 shares of the stock traded hands, compared to its average volume of 63,778. 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 is $62.39 and its two-hundred day moving average is $57.68. The stock has a market capitalization of $191.49 million, a PE ratio of 14.49 and a beta of 0.06. Pro-Dex, Inc. has a one year low of $23.47 and a one year high of $77.00.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its quarterly earnings data on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.20. The business had revenue of $20.40 million during the quarter, compared to analysts' expectations of $19.20 million. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. As a group, research analysts forecast that Pro-Dex, Inc. will post 2.78 earnings per share for the current year.

Hedge Funds Weigh In On Pro-Dex

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in shares of Pro-Dex in the 4th quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pro-Dex during the 2nd quarter valued at approximately $50,000. Bank of America Corp DE raised its stake in Pro-Dex by 173.3% during the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier's stock valued at $74,000 after buying an additional 1,073 shares during the last quarter. California State Teachers Retirement System purchased a new position in Pro-Dex during the second quarter valued at $99,000. Finally, Wells Fargo & Company MN boosted its holdings in Pro-Dex by 65.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier's stock worth $89,000 after acquiring an additional 915 shares in the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDEX has been the topic of a number of research analyst reports. Zacks Research raised shares of Pro-Dex to a "hold" rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Pro-Dex has an average rating of "Moderate Buy" and an average target price of $70.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.