StockNews.com Initiates Coverage on Pro-Dex (NASDAQ:PDEX)

Investment analysts at StockNews.com began coverage on shares of Pro-Dex (NASDAQ:PDEX – Get Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the medical instruments supplier’s stock.

Separately, Ascendiant Capital Markets lowered their price target on Pro-Dex to $30.00 and set a “na” rating for the company in a research report on Monday, May 16th.

Pro-Dex stock opened at $15.18 on Wednesday. The firm has a 50 day moving average of $15.35 and a 200 day moving average of $18.79. The firm has a market capitalization of $54.94 million, a price-to-earnings ratio of 17.45 and a beta of 1.11. Pro-Dex has a 12-month low of $12.40 and a 12-month high of $32.62. The company has a current ratio of 3.64, a quick ratio of 2.10 and a debt-to-equity ratio of 0.47.

Pro-Dex (NASDAQ:PDEX – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The medical instruments supplier reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $9.27 million during the quarter. Pro-Dex had a net margin of 8.50% and a return on equity of 15.41%.

A number of institutional investors and hedge funds have recently bought and sold shares of PDEX. Wells Fargo & Company MN boosted its holdings in Pro-Dex by 11.2% in the second quarter. Wells Fargo & Company MN now owns 3,283 shares of the medical instruments supplier’s stock worth $101,000 after acquiring an additional 331 shares in the last quarter. State Street Corp lifted its holdings in Pro-Dex by 5.8% in the first quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock valued at $197,000 after acquiring an additional 650 shares during the period. Morgan Stanley lifted its holdings in Pro-Dex by 149.7% in the second quarter. Morgan Stanley now owns 2,622 shares of the medical instruments supplier’s stock valued at $80,000 after acquiring an additional 1,572 shares during the period. LSV Asset Management increased its position in shares of Pro-Dex by 13.9% in the first quarter. LSV Asset Management now owns 35,581 shares of the medical instruments supplier’s stock valued at $588,000 after buying an additional 4,346 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Pro-Dex by 10.7% in the third quarter. BlackRock Inc. now owns 49,114 shares of the medical instruments supplier’s stock valued at $1,261,000 after buying an additional 4,752 shares in the last quarter. Institutional investors own 16.73% of the company’s stock.

Pro-Dex Company Profile (Get Rating)

Pro-Dex, Inc designs, develops, and manufactures 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.

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