Pro-Dex (NASDAQ:PDEX) Director Sells $47,145.52 in Stock

Key Points

• Pro-Dex director Angelita Rebamontan Domingo sold 998 shares on March 16 for about $47,145, reducing her direct ownership by 5.05% to 18,779 shares.
• The company’s shares fell 5.3% in trading, and the stock has been moving below its 50-day average while remaining above its 200-day average.
• Pro-Dex recently reported strong quarterly results, with EPS of $1.20 topping expectations and revenue of $19.95 million beating analyst estimates; analysts currently rate the stock a Moderate Buy with an average target price of $70.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) Director Angelita Rebamontan Domingo sold 998 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.24, for a total value of $47,145.52. Following the completion of the sale, the director directly owned 18,779 shares in the company, valued at approximately $887,119.96. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Pro-Dex Stock Down 5.3%

Shares of PDEX traded down $3.29 during trading hours on Tuesday, hitting $58.26. The company had a trading volume of 38,447 shares, compared to its average volume of 40,368. The firm has a fifty day moving average price of $62.13 and a 200-day moving average price of $50.82. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67. The stock has a market capitalization of $186.02 million, a price-to-earnings ratio of 16.09 and a beta of 0.01. Pro-Dex, Inc. has a 52-week low of $23.47 and a 52-week high of $68.99.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.58. The company had revenue of $19.95 million for the quarter, compared to analysts' expectations of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. On average, equities research analysts forecast that Pro-Dex, Inc. will post 3.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on PDEX. Ascendiant Capital Markets increased their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of Pro-Dex to a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings raised Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen raised Pro-Dex from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Pro-Dex presently has a consensus rating of "Moderate Buy" and an average target price of $70.00.

Institutional Trading of Pro-Dex

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in Pro-Dex in the fourth quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pro-Dex during the 2nd quarter valued at $50,000. Bank of America Corp DE lifted its holdings in shares of Pro-Dex by 173.3% during the 2nd 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 period. Wells Fargo & Company MN lifted its holdings in shares of Pro-Dex by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier's stock valued at $89,000 after buying an additional 915 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Pro-Dex in the 2nd quarter worth $105,000. 15.28% of the stock is currently owned by institutional investors.

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.

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.