Insider Selling at Pro-Dex, Inc.

On January 21st, 2023, Raymond E. Cabillot, a director at Pro-Dex, Inc. (NASDAQ:PDEX), executed the sale of 6,931 shares of the company's stock. This transaction occurred at an average price of $45.22 per share, resulting in a total of $313,419.82. Following the sale, Cabillot's remaining stake in the company consists of 337,752 shares, which are currently valued at approximately $15,273,145.44. This sale represents a decrease of 2.01% in his ownership of the company's stock. The details of this transaction have been formally reported in a filing with the SEC.

Pro-Dex Stock Performance

As of Wednesday, Pro-Dex's stock was trading down by $2.67, reaching a price of $41.65 during midday trading. The trading volume for the day was 26,575 shares, which is slightly below the average volume of 28,329 shares. Over the past twelve months, the stock has seen a low of $16.18 and a high of $59.60. The company holds a debt-to-equity ratio of 0.36, alongside a quick ratio of 1.94 and a current ratio of 3.41. Pro-Dex's market capitalization stands at $135.78 million, with a price-to-earnings ratio of 27.05 and a beta of 0.56. The 50-day simple moving average is $48.09, while the 200-day simple moving average is $33.44.

Wall Street Analysts Forecast Growth

Several research firms have provided insights regarding Pro-Dex. On December 14th, StockNews.com upgraded its rating for Pro-Dex from ‘buy’ to ‘strong-buy.’ Additionally, Ascendiant Capital Markets increased its price target for the company from $30.00 to $52.00, while maintaining a ‘buy’ rating for the stock.

Institutional Trading of Pro-Dex

Recently, several hedge funds have adjusted their positions in Pro-Dex’s stock. Notably, FMR LLC raised its holdings by 34.9% during the third quarter, acquiring an additional 1,028 shares to hold a total of 3,973 shares valued at $119,000. Renaissance Technologies LLC also increased its position by 7.9% during the second quarter, reaching a total of 12,240 shares worth $240,000. Bard Associates Inc. raised its holdings by 17.6% in the third quarter, owning 13,596 shares valued at approximately $406,000 after acquiring an additional 2,031 shares. Ritholtz Wealth Management entered a new position in Pro-Dex during the fourth quarter, estimated at about $572,000. Furthermore, JPMorgan Chase & Co. raised its stake by 2.2% in the third quarter, bringing its total to 24,790 shares worth around $740,000. Notably, approximately 15.28% of Pro-Dex's stock is held by institutional investors and hedge funds.

About Pro-Dex

Pro-Dex, Inc. specializes in the design, development, manufacture, and distribution of powered surgical instruments aimed at medical device manufacturers on a global scale. The company offers a variety of products, including autoclavable, battery-powered, electric, and multifunction surgical drivers and shavers, which are predominantly used in the orthopedic, thoracic, and craniomaxillofacial segments.

Should You Invest in Pro-Dex?

Before making any investment decisions regarding Pro-Dex, it’s advisable to remain informed. While analysts currently rate Pro-Dex as a ‘buy,’ others suggest there may be better investment opportunities available.

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