StockNews.com Initiates Coverage on Pro-Dex (NASDAQ:PDEX)

Equities research analysts at StockNews.com began coverage on shares of Pro-Dex (NASDAQ:PDEX – Get Rating) in a report issued on Wednesday. The brokerage set a “buy” rating on the medical instruments supplier’s stock.

Pro-Dex Stock Performance

NASDAQ:PDEX opened at $18.64 on Wednesday. The stock has a market cap of $66.17 million, a P/E ratio of 14.68 and a beta of 0.99. The stock has a 50 day simple moving average of $16.54 and a 200 day simple moving average of $16.66. The company has a current ratio of 3.07, a quick ratio of 1.58 and a debt-to-equity ratio of 0.36. Pro-Dex has a 1-year low of $14.47 and a 1-year high of $21.43.

Hedge Funds Weigh In On Pro-Dex

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in Pro-Dex by 345.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier’s stock worth $48,000 after acquiring an additional 2,084 shares during the period. UBS Group AG increased its stake in Pro-Dex by 421.5% during the 1st quarter. UBS Group AG now owns 5,867 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 4,742 shares during the period. Renaissance Technologies LLC bought a new position in Pro-Dex during the 2nd quarter worth $168,000. State Street Corp increased its stake in Pro-Dex by 5.8% during the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock worth $197,000 after acquiring an additional 650 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Pro-Dex by 59.2% in the 1st quarter. JPMorgan Chase & Co. now owns 20,863 shares of the medical instruments supplier’s stock valued at $345,000 after purchasing an additional 7,762 shares during the last quarter. Institutional investors own 13.49% of the company’s stock.

Pro-Dex Company Profile

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Pro-Dex, Inc engages in the design, development and manufacture of rotary drive surgical and dental instruments. The firm specializes in medical devices and services, industrial and scientific, dental and component, repairs and other. Its products include finished medical devices, micro air-motors, dental products, plastic injection molding and torque wrenches.