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

Key Points

• Pro-Dex CEO Kirk Richard Lee Van Jr. sold 19,235 shares at an average price of $60.58, generating approximately $1.17 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 79,993 shares.
• Pro-Dex recently exceeded quarterly expectations, reporting $0.87 in earnings per share versus the $0.67 consensus estimate and revenue of $20.4 million compared with the $19.2 million estimate.
• PDEX shares were trading at $59.84, while analysts maintained a generally positive view: two rated the stock Buy and one Hold, resulting in a Moderate Buy consensus and a $70 price target.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 79,993 shares in the company, valued at approximately $4,845,975.94. The trade was a 19.38% decrease in their position. The sale 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 Price Performance

Shares of PDEX stock traded down $0.86 during trading on Thursday, hitting $59.84. The company had a trading volume of 65,560 shares, compared to its average volume of 63,778. The firm has a market capitalization of $191.49 million, a P/E 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. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10. The stock's 50-day moving average price is $62.39 and its 200 day moving average price is $57.68.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The firm had revenue of $20.40 million during the quarter, compared to the consensus estimate of $19.20 million. Equities analysts expect that Pro-Dex, Inc. will post 2.78 EPS for the current fiscal year.

Institutional Trading of Pro-Dex

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in Pro-Dex during the 1st quarter worth $170,000. Jane Street Group LLC bought a new position in Pro-Dex in the first quarter valued at about $321,000. Geode Capital Management LLC boosted its stake in shares of Pro-Dex by 93.2% during the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier's stock valued at $2,255,000 after purchasing an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Pro-Dex by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier's stock worth $1,566,000 after purchasing an additional 14,479 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of Pro-Dex in the 2nd quarter valued at about $105,000. Institutional investors and hedge funds own 15.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Pro-Dex Company Profile

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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