Ascendiant Capital Markets Issues Positive Forecast for Pro-Dex (NASDAQ:PDEX) Stock Price

Pro-Dex (NASDAQ:PDEX - Free Report) had its target price increased by Ascendiant Capital Markets from $54.00 to $56.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical instruments supplier's stock.

Separately, Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th.

Pro-Dex Stock Down 2.3%

NASDAQ PDEX traded down $0.94 during trading hours on Tuesday, reaching $40.35. 44,795 shares of the company's stock traded hands, compared to its average volume of 30,721. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $70.26. The firm has a market cap of $131.58 million, a PE ratio of 20.07 and a beta of 0.37. The firm has a 50-day simple moving average of $52.70 and a 200 day simple moving average of $46.97. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.51. The company had revenue of $17.41 million during the quarter, compared to analysts' expectations of $17.70 million. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. Sell-side analysts anticipate that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Buying and Selling at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 7,674 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $45.00, for a total value of $345,330.00. Following the completion of the transaction, the director now directly owns 310,978 shares in the company, valued at $13,994,010. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 21,383 shares of company stock valued at $1,031,182. Insiders own 47.50% of the company's stock.

Institutional Trading of Pro-Dex

Several institutional investors have recently made changes to their positions in PDEX. Cubist Systematic Strategies LLC purchased a new position in Pro-Dex in the 1st quarter worth approximately $170,000. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex during the fourth quarter valued at approximately $202,000. Trexquant Investment LP purchased a new position in shares of Pro-Dex in the fourth quarter worth $252,000. Integrated Quantitative Investments LLC bought a new position in shares of Pro-Dex during the fourth quarter worth $254,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Pro-Dex during the fourth quarter valued at $255,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

About Pro-Dex

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.