Ascendiant Capital Markets Increases Pro-Dex (NASDAQ:PDEX) Price Target to $56.00

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

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

Pro-Dex Stock Down 3.3%

NASDAQ:PDEX traded down $1.35 during mid-day trading on Tuesday, reaching $39.00. The stock had a trading volume of 34,473 shares, compared to its average volume of 30,818. The stock has a market cap of $127.18 million, a P/E ratio of 19.40 and a beta of 0.37. The business's 50 day moving average is $52.30 and its 200 day moving average is $46.85. 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 has a fifty-two week low of $16.84 and a fifty-two week high of $70.26.

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

Insider Buying and Selling at Pro-Dex

In related news, Director Raymond E. Cabillot sold 5,151 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $50.00, for a total value of $257,550.00. Following the completion of the transaction, the director now owns 300,695 shares of the company's stock, valued at $15,034,750. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 21,383 shares of company stock valued at $1,031,182 in the last 90 days. 47.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pro-Dex

Several large investors have recently modified their holdings of the stock. EAM Investors LLC acquired a new stake in Pro-Dex in the 4th quarter valued at $1,047,000. Navellier & Associates Inc. bought a new stake in shares of Pro-Dex in the 1st quarter worth about $1,094,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Pro-Dex during the 4th quarter worth about $995,000. 683 Capital Management LLC acquired a new stake in shares of Pro-Dex during the 4th quarter worth about $739,000. Finally, American Century Companies Inc. bought a new position in Pro-Dex during the 4th quarter valued at about $558,000. 15.28% of the stock is currently owned by institutional investors.

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.