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

On March 19th, 2023, Raymond E. Cabillot, a director at Pro-Dex, Inc. (NASDAQ:PDEX), sold 1,000 shares of the company's stock in a transaction valued at $50,000. The shares were sold at an average price of $50.00 each. After this sale, Cabillot retains ownership of 299,695 shares in Pro-Dex, which is estimated to be worth about $14,984,750. This transaction represents a decrease of 0.33% in his total holdings of the stock. Details regarding this transaction were disclosed in a legal filing with the Securities and Exchange Commission (SEC), which can be accessed through the provided link.

Pro-Dex Stock Performance

On the trading day following the sale, shares of Pro-Dex saw a decline of $0.13, landing at a price of $48.92. During this midday trading session, 14,151 shares exchanged hands, compared to the average trading volume of 21,678 shares. The company's stock has a 50-day moving average price of $39.74 and a 200-day moving average price of $38.81. Pro-Dex’s market capitalization stands at approximately $159.53 million, with a price-to-earnings (P/E) ratio of 24.34, and a volatility beta of 0.68. Over the past year, the stock has experienced a low of $16.84 and a high of $59.60. Financial ratios show a quick ratio of 1.44, a current ratio of 2.58, and a debt-to-equity ratio of 0.33.

Recent Earnings Results

Pro-Dex, Inc. last announced its earnings on January 30th, when it reported earnings per share (EPS) of $0.61 for the quarter. This figure exceeded analysts' expectations, which had estimated EPS to be around $0.38, marking a positive difference of $0.23. The company recorded a net profit margin of 11.06% and a return on equity of 21.68%. Analysts project that Pro-Dex will post earnings of about 2 EPS for the current fiscal year.

Analyst Ratings Update

In a separate update, StockNews.com adjusted its ratings for Pro-Dex, lowering them from a "buy" rating to a "hold" rating as of March 12th.

Institutional Investors and Hedge Funds

Several hedge funds have recently altered their holdings in Pro-Dex. EAM Investors LLC initiated a new position in the fourth quarter, investing approximately $1,047,000. Other notable investments include O’Shaughnessy Asset Management LLC, which invested $995,000, and 683 Capital Management LLC, which acquired shares worth $739,000 in the same timeframe. Ritholtz Wealth Management and American Century Companies Inc. also entered the market with investments of $572,000 and $558,000 respectively. Collectively, institutional investors and hedge funds hold around 15.28% of the company’s stock.

About Pro-Dex, Inc.

Pro-Dex, Inc. is engaged in designing, developing, manufacturing, and selling powered surgical instruments for medical device original equipment manufacturers across the globe. The company specializes in autoclavable, battery-powered, electric, and multi-function surgical drivers and shavers primarily utilized in orthopedic, thoracic, and craniomaxillofacial surgical procedures.

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