Pro-Dex, Inc. (NASDAQ:PDEX) Director Sells $50,000 in Stock

On March 19th, 2023, Raymond E. Cabillot, a director at Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report), completed the sale of 1,000 shares of company stock. Each share was sold at an average price of $50.00, resulting in a total transaction value of $50,000. Following this sale, Cabillot retains ownership of 299,695 shares in Pro-Dex, which are now valued at approximately $14,984,750. This transaction represented a slight decrease of 0.33% in his overall ownership of the company's stock. The details of this trade were reported in a legal filing with the Securities and Exchange Commission (SEC), available for public viewing.

Pro-Dex Price Performance

During midday trading on Friday, Pro-Dex shares fell by $0.13 to reach a price of $48.92, with a total of 14,151 shares changing hands. This volume is below the company's average trading volume of 21,678 shares. Pro-Dex's stock has a 50-day moving average of $39.74 and a 200-day moving average of $38.81. The company's market capitalization stands at $159.53 million, offering a price-to-earnings (P/E) ratio of 24.34 and a beta of 0.68. Over the past year, Pro-Dex has experienced a low of $16.84 and a high of $59.60. The company's quick ratio is reported at 1.44, with a current ratio of 2.58 and a debt-to-equity ratio of 0.33.

Recent Earnings Report

Pro-Dex most recently released its earnings results on January 30th. For that quarter, the company reported earnings per share (EPS) of $0.61, surpassing analysts' expectations of $0.38 by a margin of $0.23. The company achieved a net margin of 11.06% and a return on equity of 21.68%. Looking ahead, analysts project that Pro-Dex, Inc. is expected to report an EPS of 2 for the current fiscal year.

Analysts Adjust Ratings

In related news, StockNews.com recently downgraded Pro-Dex from a “buy” rating to a “hold” rating in a research note dated March 12th.

Hedge Fund Activity

Several hedge funds have recently altered their positions in Pro-Dex. Notably, EAM Investors LLC acquired new shares worth $1,047,000 during the fourth quarter, while O’Shaughnessy Asset Management LLC invested $995,000 in the same period. Other funds that established new positions include 683 Capital Management at $739,000, Ritholtz Wealth Management at $572,000, and American Century Companies Inc. at $558,000. In total, institutional investors and hedge funds hold approximately 15.28% of the company's stock.

About Pro-Dex

Pro-Dex, Inc. is engaged in the design, development, manufacturing, and sales of powered surgical instruments targeted primarily at medical device original equipment manufacturers globally. The products offered include battery-powered, electric, and multi-function surgical drivers and shavers, utilized mainly in orthopedic, thoracic, and craniomaxillofacial surgical markets.

Pro-Dex, Stock, Director