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

Pro-Dex (NASDAQ:PDEX) had its target price increased by Ascendiant Capital Markets from $30.00 to $52.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

Separately, StockNews.com upgraded shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX opened at $47.34 on Monday. The firm’s 50 day moving average price is $29.24 and its 200-day moving average price is $22.77. Pro-Dex has a twelve month low of $15.70 and a twelve month high of $49.94. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $154.33 million, a PE ratio of 27.71 and a beta of 0.39.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. Pro-Dex had a net margin of 9.17% and a return on equity of 16.74%. The firm had revenue of $15.03 million for the quarter. Equities research analysts expect that Pro-Dex will post 1.42 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Alisha Charlton sold 1,000 shares of Pro-Dex stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $40.02, for a total transaction of $40,020.00. Following the sale, the chief financial officer now owns 15,339 shares in the company, valued at $613,866.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 47.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pro-Dex

Institutional investors and hedge funds have recently modified their holdings of the stock. Perritt Capital Management Inc. raised its position in shares of Pro-Dex by 43.3% during the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after buying an additional 1,813 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pro-Dex by 7.9% in the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after purchasing an additional 900 shares in the last quarter. Bard Associates Inc. grew its holdings in shares of Pro-Dex by 17.6% in the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Pro-Dex by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after purchasing an additional 3,067 shares in the last quarter. 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.