Pro-Dex (NASDAQ:PDEX) Given New $30.00 Price Target at Ascendiant Capital Markets

Pro-Dex (NASDAQ:PDEX) had its target price boosted by Ascendiant Capital Markets from $28.00 to $30.00 in a report issued on Monday morning, Marketbeat.com reports. They currently have a buy rating on the medical instruments supplier’s stock.

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

Pro-Dex Stock Down 4.9 %

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

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

Insider Activity at Pro-Dex

In related news, Director Angelita Rebamontan Domingo sold 2,585 shares of Pro-Dex 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 completion of the sale, the director now owns 8,191 shares in the company, valued at approximately $149,895.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in shares of Pro-Dex by 7.9% in the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after acquiring an additional 900 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pro-Dex by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after acquiring an additional 3,067 shares in the last quarter. Finally, Perritt Capital Management Inc. grew 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 worth $106,000 after acquiring an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.