Insider Selling: Pro-Dex, Inc. (NASDAQ:PDEX) Director Sells 835 Shares of Stock

Pro-Dex, Inc. (NASDAQ:PDEX) Director Raymond E. Cabillot sold 835 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $42.00, for a total transaction of $35,070.00. Following the transaction, the director now owns 334,646 shares of the company’s stock, valued at $14,055,132. This represents a 0.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Pro-Dex Price Performance

Pro-Dex stock traded down $1.20 during trading hours on Friday, hitting $40.66. 23,534 shares of the company traded hands, compared to its average volume of 27,182. The firm’s 50-day simple moving average is $47.87 and its two-hundred day simple moving average is $33.56. The firm has a market cap of $132.55 million, a P/E ratio of 26.40 and a beta of 0.56. Pro-Dex, Inc. has a 1-year low of $16.18 and a 1-year high of $59.60. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

Analysts Set New Price Targets

Several brokerages have commented on PDEX. Ascendiant Capital Markets raised their price target on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com raised Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 14th.

Institutional Investors Weigh In On Pro-Dex

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Pro-Dex by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock worth $740,000 after acquiring an additional 529 shares during the period. Renaissance Technologies LLC grew its stake in shares of Pro-Dex by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after purchasing an additional 900 shares during the last quarter. FMR LLC raised its holdings in shares of Pro-Dex by 34.9% in the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after purchasing an additional 1,028 shares in the last quarter. Bard Associates Inc. raised its holdings in shares of Pro-Dex by 17.6% in the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Pro-Dex by 9.1% during the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock valued at $819,000 after purchasing an additional 2,296 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.