Pro-Dex, Inc. (NASDAQ:PDEX) Position Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,754 shares of the medical instruments supplier’s stock after purchasing an additional 4,426 shares during the period. Northern Trust Corp owned about 1.10% of Pro-Dex worth $1,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PDEX. Bank of New York Mellon Corp bought a new stake in Pro-Dex during the fourth quarter valued at $202,000. Trexquant Investment LP bought a new stake in Pro-Dex during the fourth quarter valued at $252,000. Integrated Quantitative Investments LLC bought a new stake in Pro-Dex during the fourth quarter valued at $254,000. Arrowstreet Capital Limited Partnership bought a new stake in Pro-Dex during the fourth quarter valued at $255,000. Finally, Russell Investments Group Ltd. bought a new stake in Pro-Dex during the fourth quarter valued at $327,000. Institutional investors own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th.

Pro-Dex Stock Up 1.4%

Pro-Dex stock opened at $46.24 on Tuesday. The company has a 50-day simple moving average of $52.95 and a 200-day simple moving average of $47.03. The firm has a market capitalization of $150.79 million, a P/E ratio of 23.01 and a beta of 0.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex, Inc. has a one year low of $16.84 and a one year high of $70.26.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.98 EPS for the quarter, topping the consensus estimate of $0.47 by $0.51. The business had revenue of $17.41 million during the quarter, compared to analyst estimates of $17.70 million. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. As a group, equities analysts expect that Pro-Dex, Inc. will post 2 earnings per share for the current year.

Insider Transactions at Pro-Dex

In other news, Director Raymond E. Cabillot sold 836 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $50.00, for a total transaction of $41,800.00. Following the completion of the transaction, the director now owns 278,109 shares in the company, valued at approximately $13,905,450. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 21,383 shares of company stock worth $1,031,182. Insiders own 47.50% of the company’s stock.

Pro-Dex Profile

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.