Director of Pro-Dex, Inc. Sells $50,000 Worth of Stock

On March 19th, 2023, Raymond E. Cabillot, a director at Pro-Dex, Inc. (NASDAQ:PDEX), executed a significant stock transaction. He sold 1,000 shares of the company’s stock for an average price of $50.00 each, totaling $50,000. With this sale, Cabillot now holds 299,695 shares of Pro-Dex, which is valued at approximately $14,984,750. This transaction represents a 0.33% reduction in his ownership stake. Details of this sale have been filed with the Securities and Exchange Commission and can be accessed through official channels.

Performance of Pro-Dex Stock

As of Friday, the shares of Pro-Dex were trading down $0.13, reaching a price of $48.92. During the trading session, 14,151 shares changed hands, lower than the average trading volume of 21,678. The 50-day moving average price of the stock stands at $39.74, while its 200-day moving average is $38.81. The total market capitalization of Pro-Dex is approximately $159.53 million, with a price-to-earnings (P/E) ratio of 24.34 and a beta of 0.68. Over the past year, the company’s stock reached a low of $16.84 and a high of $59.60. Additionally, Pro-Dex has a quick ratio of 1.44, a current ratio of 2.58, and a debt-to-equity ratio of 0.33.

Pro-Dex last released its earnings figures on January 30th, where it reported earnings of $0.61 per share for the quarter. This was significantly higher than the analysts' expected consensus of $0.38, marking a positive surprise of $0.23. The company’s net margin was reported at 11.06%, and it achieved a return on equity of 21.68%. Analysts predict that Pro-Dex will report an earnings per share of around $2 for the current fiscal year.

Analyst Ratings and Changes

In related news, StockNews.com recently downgraded the rating of Pro-Dex shares from a "buy" to a "hold" in a research note released on March 12.

Institutional Investors and Hedge Funds

Recently, several hedge funds have altered their stakes in Pro-Dex. EAM Investors LLC acquired a new position worth $1,047,000 during the fourth quarter. Additionally, O Shaughnessy Asset Management LLC took a new position valued at $995,000, while 683 Capital Management LLC and Ritholtz Wealth Management also increased their investments in the company. Overall, institutional investors and hedge funds now own about 15.28% of Pro-Dex's stock.

About Pro-Dex, Inc.

Pro-Dex, Inc. is involved in the design, development, manufacturing, and sale of powered surgical instruments targeted towards medical device original equipment manufacturers around the world. The company specializes in creating autoclavable, battery-powered, and electric surgical drivers and shavers, which are used primarily in orthopedic, thoracic, and craniomaxillofacial surgical procedures.

Pro-Dex, Stocks, Transaction