Insider Selling at Pro-Dex, Inc.

On January 21st, Raymond E. Cabillot, a director at Pro-Dex, Inc. (NASDAQ:PDEX), sold 6,931 shares of the company's stock. The shares were traded at an average price of $45.22, resulting in a total sale value of $313,419.82. After this transaction, Cabillot owns 337,752 shares of Pro-Dex, which is valued at approximately $15,273,145.44. It's important to note that this sale represented a 2.01% decrease in his ownership stake in the company. Details of the sale have been reported in a legal filing with the SEC, which is accessible through a relevant link.

Pro-Dex Stock Performance

On Wednesday, the stock of Pro-Dex (NASDAQ:PDEX) experienced a decline, trading down $2.67 to reach $41.65 during mid-day trading. The trading volume for the day was 26,575 shares, compared to the average volume of 28,329. Over the past year, Pro-Dex has seen a low of $16.18 and a high of $59.60. The company's financial ratios show a debt-to-equity ratio of 0.36, a quick ratio of 1.94, and a current ratio of 3.41. Pro-Dex has a market capitalization of $135.78 million and a price-to-earnings ratio of 27.05, with a beta of 0.56. Additionally, the stock's 50-day simple moving average stands at $48.09, while the 200-day simple moving average is at $33.44.

Wall Street Analysts Forecast Growth

Several research firms have shared their outlook on Pro-Dex. StockNews.com upgraded the stock from a "buy" rating to a "strong-buy" in a report published on December 14th. Additionally, Ascendiant Capital Markets increased their price target for Pro-Dex shares from $30.00 to $52.00, classifying it as a "buy" in their report dated November 11th.

Institutional Trading of Pro-Dex

Recently, multiple hedge funds have made adjustments to their holdings of Pro-Dex shares. During the third quarter, FMR LLC raised its position by 34.9% and now owns 3,973 shares, valued at $119,000 after acquiring an additional 1,028 shares. Renaissance Technologies LLC increased its stake by 7.9% during the second quarter, now holding 12,240 shares worth $240,000 after purchasing an additional 900 shares. Bard Associates Inc. also saw a 17.6% increase in their holdings, bringing them to 13,596 shares valued at $406,000. Ritholtz Wealth Management added a new position in Pro-Dex valued at approximately $572,000 in the fourth quarter, while JPMorgan Chase & Co. enhanced their stake by 2.2% in the third quarter, now owning 24,790 shares with a worth of $740,000. About 15.28% of Pro-Dex stock is held by institutional investors and hedge funds.

About Pro-Dex

Pro-Dex, Inc. is involved in designing, developing, manufacturing, and selling powered surgical instruments to medical device original equipment manufacturers globally. The company specializes in autoclavable, battery-powered, electric, and multi-function surgical drivers and shavers, predominantly for use in the orthopedic, thoracic, and craniomaxillofacial markets.

Insider, Stock, Sale