Insider Selling: Pro-Dex (NASDAQ:PDEX) CEO Sells 765 Shares

Key Points

• Pro-Dex CEO Kirk Richard Lee Van, Jr. sold 765 shares at an average price of $59.36, totaling $45,410.40. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 0.96% to 79,228 shares.
• Pro-Dex shares rose to $66.56, while the company recently reported quarterly earnings of $0.87 per share and revenue of $20.40 million, exceeding analyst expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $74 target price; institutional investors currently own 15.28% of the stock.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) CEO Kirk Richard Lee Van, Jr. sold 765 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $59.36, for a total value of $45,410.40. Following the sale, the chief executive officer directly owned 79,228 shares in the company, valued at $4,702,974.08. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Pro-Dex Price Performance

Pro-Dex stock traded up $3.75 during mid-day trading on Monday, hitting $66.56. The stock had a trading volume of 126,003 shares, compared to its average volume of 63,089. The company has a current ratio of 4.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average is $62.51 and its 200 day moving average is $58.01. The firm has a market capitalization of $212.99 million, a P/E ratio of 16.12 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 posted its quarterly earnings results 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 the consensus estimate of $19.20 million. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. On average, sell-side analysts forecast that Pro-Dex, Inc. will post 2.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pro-Dex

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new stake in shares of Pro-Dex in the 2nd quarter worth $99,000. Navellier & Associates Inc. acquired a new stake in Pro-Dex during the second quarter valued at $322,000. Morgan Dempsey Capital Management LLC boosted its stake in shares of Pro-Dex by 6.2% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier's stock worth $286,000 after acquiring an additional 339 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Pro-Dex during the 1st quarter valued at about $532,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex during the 2nd quarter valued at about $678,000. 15.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PDEX. Wall Street Zen raised Pro-Dex from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Zacks Research raised shares of Pro-Dex to a "hold" rating in a research report on Tuesday, May 19th. Finally, Ascendiant Capital Markets boosted their target price on Pro-Dex from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Friday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.00.

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.

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