Acadian Asset Management LLC Grows Position in Pro-Dex, Inc. $PDEX

Acadian Asset Management LLC grew its stake in Pro-Dex, Inc. (NASDAQ:PDEX) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,276 shares of the medical instruments supplier’s stock after acquiring an additional 2,931 shares during the quarter. Acadian Asset Management LLC owned about 1.82% of Pro-Dex worth $2,937,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. raised its stake in Pro-Dex by 3.0% in the 1st quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier’s stock valued at $610,000 after purchasing an additional 355 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Pro-Dex by 48.5% during the first quarter. Bank of New York Mellon Corp now owns 6,415 shares of the medical instruments supplier’s stock worth $318,000 after buying an additional 2,096 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Pro-Dex in the first quarter valued at approximately $170,000. Ritholtz Wealth Management lifted its stake in shares of Pro-Dex by 30.3% during the first quarter. Ritholtz Wealth Management now owns 15,944 shares of the medical instruments supplier’s stock valued at $791,000 after buying an additional 3,711 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Pro-Dex by 14.1% during the fourth quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock valued at $1,672,000 after buying an additional 4,426 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

PDEX has been the topic of several analyst reports. Wall Street Zen cut Pro-Dex from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Ascendiant Capital Markets increased 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. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $56.00.

Pro-Dex Price Performance

Shares of NASDAQ PDEX opened at $32.62 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.23 and a quick ratio of 1.71. The firm has a market capitalization of $106.34 million, a PE ratio of 12.08 and a beta of -0.04. Pro-Dex, Inc. has a 1-year low of $23.68 and a 1-year high of $70.26. The business’s fifty day moving average price is $44.87 and its two-hundred day moving average price is $47.03.

Pro-Dex (NASDAQ:PDEX) last posted its earnings results on Thursday, September 4th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). Pro-Dex had a net margin of 13.48% and a return on equity of 26.67%. The firm had revenue of $17.49 million for the quarter, compared to analyst estimates of $17.90 million. On average, research analysts expect that Pro-Dex, Inc. will post 2 EPS for the current year.

Pro-Dex Company 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.