StockNews.com Upgrades Pro-Dex (NASDAQ:PDEX) to Strong-Buy

Pro-Dex (NASDAQ:PDEX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

Pro-Dex Stock Performance

PDEX stock traded down $0.47 during trading hours on Monday, hitting $17.78. 24,702 shares of the stock were exchanged, compared to its average volume of 8,064. The company has a current ratio of 3.45, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $60.81 million, a P/E ratio of 30.66 and a beta of 0.55. The company has a 50-day simple moving average of $17.81 and a two-hundred day simple moving average of $18.09. Pro-Dex has a 12 month low of $14.51 and a 12 month high of $22.99.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.14 earnings per share for the quarter. The firm had revenue of $12.59 million for the quarter. Pro-Dex had a return on equity of 6.50% and a net margin of 4.13%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pro-Dex stock. Punch & Associates Investment Management Inc. lifted its stake in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,610 shares of the medical instruments supplier’s stock after purchasing an additional 5,235 shares during the quarter. Punch & Associates Investment Management Inc. owned 1.96% of Pro-Dex worth $1,093,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Pro-Dex

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