D.A. Davidson & CO. Purchases New Position in Pro-Dex, Inc. $PDEX

D.A. Davidson & CO. purchased a new stake in Pro-Dex, Inc. (NASDAQ:PDEX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,335 shares of the medical instruments supplier’s stock, valued at approximately $451,000. D.A. Davidson & CO. owned approximately 0.32% of Pro-Dex as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Navellier & Associates Inc. purchased a new stake in Pro-Dex during the 1st quarter worth approximately $1,094,000. Jane Street Group LLC purchased a new stake in Pro-Dex during the 1st quarter worth approximately $321,000. Ritholtz Wealth Management increased its stake in Pro-Dex by 32.4% during the 2nd quarter. Ritholtz Wealth Management now owns 21,102 shares of the medical instruments supplier’s stock worth $921,000 after buying an additional 5,158 shares in the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in Pro-Dex during the 2nd quarter worth approximately $179,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Pro-Dex during the 1st quarter worth approximately $170,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PDEX. Wall Street Zen lowered Pro-Dex from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Pro-Dex in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Pro-Dex Stock Up 7.0%

Shares of NASDAQ PDEX opened at $30.71 on Thursday. The stock has a market cap of $100.73 million, a P/E ratio of 11.37 and a beta of -0.11. The company has a current ratio of 3.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.25. Pro-Dex, Inc. has a 12-month low of $23.47 and a 12-month high of $70.26. The business’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $43.02.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, September 4th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). The company had revenue of $17.49 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a net margin of 13.48% and a return on equity of 26.67%. As a group, equities analysts predict that Pro-Dex, Inc. will post 2 EPS for the current fiscal year.

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.