Insider Selling: Pro-Dex, Inc. (NASDAQ:PDEX) Director Sells $139,200.00 in Stock

Pro-Dex, Inc. (NASDAQ:PDEX) Director Raymond E. Cabillot sold 2,784 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $139,200.00. Following the completion of the transaction, the director now directly owns 295,810 shares of the company’s stock, valued at $14,790,500. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Pro-Dex Price Performance

PDEX stock opened at $49.98 on Friday. The business’s 50-day moving average is $40.13 and its two-hundred day moving average is $39.75. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a market capitalization of $162.98 million, a P/E ratio of 24.87 and a beta of 0.68. Pro-Dex, Inc. has a 1 year low of $16.84 and a 1 year high of $59.60.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.23. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. Analysts anticipate that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Pro-Dex from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th.

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently modified their holdings of PDEX. JPMorgan Chase & Co. increased its holdings in Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after buying an additional 529 shares during the last quarter. FMR LLC boosted its position in shares of Pro-Dex by 34.9% during 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. Renaissance Technologies LLC increased its holdings in shares of Pro-Dex by 8.1% in the 4th quarter. Renaissance Technologies LLC now owns 14,740 shares of the medical instruments supplier’s stock valued at $689,000 after acquiring an additional 1,100 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pro-Dex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after acquiring an additional 2,296 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex during the 4th quarter worth about $202,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.