Pro-Dex (NASDAQ:PDEX) Cut to Hold at Wall Street Zen

Pro-Dex (NASDAQ:PDEX) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Ascendiant Capital Markets raised their target price on Pro-Dex from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th.

Pro-Dex Stock Performance

NASDAQ:PDEX opened at $42.73 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 1.45. The business has a fifty day simple moving average of $45.05 and a two-hundred day simple moving average of $45.81. Pro-Dex has a 1 year low of $19.45 and a 1 year high of $70.26. The company has a market capitalization of $139.34 million, a P/E ratio of 15.26 and a beta of 0.19.

Hedge Funds Weigh In On Pro-Dex

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of Pro-Dex by 5.2% in the first quarter. Acadian Asset Management LLC now owns 59,276 shares of the medical instruments supplier’s stock worth $2,937,000 after acquiring an additional 2,931 shares during the period. Geode Capital Management LLC lifted its stake in Pro-Dex by 93.2% during the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after purchasing an additional 24,927 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Pro-Dex by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after purchasing an additional 14,479 shares during the last quarter. Northern Trust Corp lifted its stake in Pro-Dex by 14.1% during the fourth quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock worth $1,672,000 after purchasing an additional 4,426 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in shares of Pro-Dex in the first quarter worth about $1,094,000. 15.28% of the stock is owned by 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.