Pro-Dex (NASDAQ:PDEX) Price Target Raised to $30.00

Pro-Dex (NASDAQ:PDEX) had its target price boosted by Ascendiant Capital Markets from $28.00 to $30.00 in a research report report published on Monday morning, MarketBeat reports. Ascendiant Capital Markets 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 research note on Saturday, September 7th.

Pro-Dex Price Performance

NASDAQ:PDEX opened at $25.71 on Monday. The stock has a market capitalization of $86.39 million, a PE ratio of 44.33 and a beta of 0.38. Pro-Dex has a 52 week low of $14.51 and a 52 week high of $27.62. The stock’s 50-day moving average price is $20.25 and its 200-day moving average price is $19.06. The company has a quick ratio of 1.66, a current ratio of 2.84 and a debt-to-equity ratio of 0.24.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $15.03 million for the quarter. Pro-Dex had a net margin of 3.95% and a return on equity of 6.82%.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Angelita Rebamontan Domingo sold 2,585 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.30, for a total value of $47,305.50. Following the transaction, the director now directly owns 8,191 shares of the company’s stock, valued at approximately $149,895.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 42.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in Pro-Dex by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after purchasing an additional 900 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Perritt Capital Management Inc. lifted its stake in Pro-Dex by 43.3% in the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 1,813 shares in the last quarter. 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.