Insider Selling: Pro-Dex, Inc. (NASDAQ:PDEX) Director Sells Shares

On Tuesday, January 21st, Raymond E. Cabillot, a director of Pro-Dex, Inc. (NASDAQ:PDEX), executed a transaction involving the sale of 6,931 shares of the company’s stock. These shares were sold at an average price of $45.22 each, culminating in a total transaction value of $313,419.82. Following this sale, Cabillot retains ownership of 337,752 shares in Pro-Dex, with a current valuation of $15,273,145.44. This transaction represents a reduction of 2.01% in his ownership stake in the company. The details regarding this transaction were officially reported in a filing with the U.S. Securities and Exchange Commission (SEC), ensuring compliance with regulatory requirements.

Pro-Dex Stock Performance

As of mid-day trading on Wednesday, January 22nd, Pro-Dex shares experienced a decline of $2.67, resulting in a price of $41.65 per share. The trading volume for the day was noted at 26,575 shares, slightly below the average trading volume of 28,329 shares. Over the last year, Pro-Dex's stock has fluctuated significantly, reaching a low of $16.18 and a high of $59.60. The company maintains a debt-to-equity ratio of 0.36, a quick ratio of 1.94, and a current ratio of 3.41. At present, Pro-Dex has a market capitalization of $135.78 million and a price-to-earnings (P/E) ratio of 27.05, with a beta of 0.56. The stock's 50-day simple moving average is reported at $48.09, while the 200-day simple moving average stands at $33.44.

Wall Street Analysts Forecast Growth

A number of financial analysts have recently expressed their views on PDEX. StockNews.com upgraded Pro-Dex's stock rating from "buy" to "strong-buy" in a research report released on December 14th. In a separate report dated November 11th, Ascendiant Capital Markets increased their price target for Pro-Dex shares from $30.00 to $52.00, assigning a "buy" rating to the stock.

Institutional Trading of Pro-Dex

Recently, several hedge funds have adjusted their positions in Pro-Dex. For instance, FMR LLC boosted its stake in the company by 34.9% during the third quarter, now holding 3,973 shares valued at $119,000 after acquiring an additional 1,028 shares. Similarly, Renaissance Technologies LLC raised its position by 7.9% during the second quarter, owning 12,240 shares worth $240,000 after a purchase of 900 shares. Bard Associates Inc. increased its holdings by 17.6% in the third quarter, now holding 13,596 shares, valued at $406,000 after an additional purchase of 2,031 shares. Additionally, Ritholtz Wealth Management established a new position in Pro-Dex valued at approximately $572,000 in the fourth quarter. Lastly, JPMorgan Chase & Co. raised its stake by 2.2% during the third quarter, accumulating a total of 24,790 shares worth $740,000 after buying 529 additional shares. Approximately 15.28% of the company’s stock is held by institutional investors and hedge funds.

About Pro-Dex

Pro-Dex, Inc. specializes in the design, development, manufacturing, and sale of powered surgical instruments, catering to medical device original equipment manufacturers around the globe. The company primarily offers autoclavable, battery-powered, electric, and multifunctional surgical drivers and shavers, which are widely used in orthopedic, thoracic, and craniomaxillofacial surgical markets.

Insider, Selling, Stocks