Pro-Dex (NASDAQ:PDEX) Price Target Raised to $56.00

Pro-Dex (NASDAQ:PDEX) had its price target raised by Ascendiant Capital Markets from $54.00 to $56.00 in a research report report published 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 note on Tuesday, May 13th.

Pro-Dex Stock Down 2.3%

Shares of NASDAQ:PDEX opened at $40.35 on Tuesday. Pro-Dex has a 52 week low of $16.84 and a 52 week high of $70.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. The company 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 $52.51 and a 200 day simple moving average of $46.92.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.51. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. The company had revenue of $17.41 million for the quarter, compared to analysts’ expectations of $17.70 million. As a group, research analysts expect that Pro-Dex will post 2 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Raymond E. Cabillot sold 836 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $50.00, for a total transaction of $41,800.00. Following the completion of the transaction, the director now owns 278,109 shares in the company, valued at $13,905,450. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 21,383 shares of company stock worth $1,031,182. 47.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pro-Dex

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in Pro-Dex by 5.2% in the first quarter. Acadian Asset Management LLC now owns 59,276 shares of the medical instruments supplier’s stock valued at $2,937,000 after buying an additional 2,931 shares in the last quarter. Jane Street Group LLC acquired a new stake in Pro-Dex during the 1st quarter valued at $321,000. Cubist Systematic Strategies LLC acquired a new stake in Pro-Dex during the 1st quarter valued at $170,000. American Century Companies Inc. raised its position in Pro-Dex by 3.0% in the 1st quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier’s stock valued at $610,000 after purchasing an additional 355 shares during the last quarter. Finally, Navellier & Associates Inc. acquired a new position in Pro-Dex in the first quarter worth $1,094,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.