Pro-Dex, Inc. Director Sells $50,000 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) Director Raymond E. Cabillot executed a stock sale, offloading 1,000 shares on Wednesday, March 19th. This transaction was conducted at an average price of $50.00 per share, culminating in a total sale of $50,000. As a result of this sale, Cabillot's ownership in the company has now decreased to 299,695 shares, which are valued at approximately $14,984,750. The sale represented a 0.33% reduction in his stock holdings in Pro-Dex. Details of the transaction were filed with the Securities and Exchange Commission (SEC) and are accessible through a legal filing.

Pro-Dex Recent Stock Performance

On the trading floor, shares of NASDAQ PDEX saw a decrease of $0.13 during midday trading on Friday, dropping to $48.92. The trading volume for this session reached 14,151 shares, in contrast to the average trading volume of 21,678 shares. Over the past weeks, the stock has reflected a 50-day moving average price of $39.74 and a 200-day moving average price of $38.81. At present, the market capital for Pro-Dex stands at $159.53 million, boasting a price-to-earnings (P/E) ratio of 24.34, alongside a beta of 0.68. Over the past year, the stock's lowest price was recorded at $16.84, while it peaked at $59.60. The company maintains a quick ratio of 1.44 and a current ratio of 2.58, in addition to a debt-to-equity ratio of 0.33.

Pro-Dex reported its latest earnings results on Thursday, January 30th. The medical instrument manufacturer posted earnings per share (EPS) of $0.61 for the quarter, surpassing the consensus estimate of $0.38 by $0.23. The company demonstrated a net margin of 11.06% and a return on equity of 21.68%. Analysts are generally forecasting Pro-Dex, Inc. to report an EPS of 2 for the ongoing fiscal year.

Analysts Adjust Price Ratings

This week, StockNews.com revised its rating on Pro-Dex shares, downgrading it from a "buy" rating to a "hold" rating in a recent research note dated March 12th.

Institutional Investment Trends

In recent months, several hedge funds have altered their holdings in PDEX. For instance, EAM Investors LLC acquired a new stake in Pro-Dex during the fourth quarter, investing $1,047,000. O’Shaughnessy Asset Management LLC also initiated a new position worth $995,000 in the same period. Furthermore, 683 Capital Management LLC and Ritholtz Wealth Management also made significant investments amounting to $739,000 and $572,000, respectively. As these hedge funds and institutional investors manage 15.28% of the overall shares of the company, Pro-Dex remains appealing to institutional stakeholders.

About Pro-Dex, Inc.

Pro-Dex, Inc. is primarily focused on the design, development, manufacturing, and sale of powered surgical instruments. These instruments cater to original equipment manufacturers (OEMs) in the medical device sector globally. The company provides a range of products such as autoclavable, battery-powered surgical drivers and shavers, which are predominantly used in the orthopedic, thoracic, and craniomaxillofacial markets.

PDEX, Stock, Transaction