Pro-Dex (NASDAQ:PDEX) Now Covered by StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Pro-Dex (NASDAQ:PDEX) in a research note issued on Tuesday. The firm set a “buy” rating on the medical instruments supplier’s stock.

Pro-Dex Stock Up 2.4 %

Shares of NASDAQ PDEX opened at $17.41 on Tuesday. The stock has a 50 day moving average price of $17.75 and a 200 day moving average price of $17.27. The firm has a market capitalization of $61.81 million, a price-to-earnings ratio of 13.71 and a beta of 0.92. Pro-Dex has a 52-week low of $14.47 and a 52-week high of $21.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.58 and a current ratio of 3.07.

Hedge Funds Weigh In On Pro-Dex

A number of hedge funds and other institutional investors have recently made changes to their positions in PDEX. JPMorgan Chase & Co. lifted its stake in Pro-Dex by 59.2% in the first quarter. JPMorgan Chase & Co. now owns 20,863 shares of the medical instruments supplier’s stock worth $345,000 after acquiring an additional 7,762 shares during the period. LSV Asset Management raised its holdings in shares of Pro-Dex by 13.9% in the 1st quarter. LSV Asset Management now owns 35,581 shares of the medical instruments supplier’s stock valued at $588,000 after purchasing an additional 4,346 shares in the last quarter. State Street Corp lifted its position in shares of Pro-Dex by 5.8% in the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock worth $197,000 after purchasing an additional 650 shares during the period. Renaissance Technologies LLC bought a new position in shares of Pro-Dex during the second quarter valued at approximately $168,000. Finally, Tower Research Capital LLC TRC increased its holdings in Pro-Dex by 345.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier’s stock valued at $48,000 after buying an additional 2,084 shares during the period. Institutional investors own 14.78% 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.