Ascendiant Capital Markets Forecasts Strong Price Appreciation for Pro-Dex (NASDAQ:PDEX) Stock

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

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

Pro-Dex Stock Performance

Shares of PDEX opened at $47.81 on Monday. The company’s 50 day simple moving average is $30.77 and its 200-day simple moving average is $23.36. Pro-Dex has a 12-month low of $15.70 and a 12-month high of $49.98. The company has a current ratio of 3.41, a quick ratio of 1.94 and a debt-to-equity ratio of 0.36. The firm has a market cap of $155.86 million, a PE ratio of 31.05 and a beta of 0.39.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts predict that Pro-Dex will post 1.42 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $40.02, for a total value of $40,020.00. Following the transaction, the chief financial officer now directly owns 15,339 shares of the company’s stock, valued at approximately $613,866.78. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Pro-Dex by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the period. Bard Associates Inc. grew its stake in Pro-Dex by 17.6% during the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after buying an additional 2,031 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after buying an additional 900 shares in the last quarter. Perritt Capital Management Inc. raised its stake in shares of Pro-Dex by 43.3% in the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 1,813 shares during the last quarter. Finally, FMR LLC boosted 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 acquiring an additional 1,028 shares in the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.