Pro-Dex, Inc. (NASDAQ:PDEX) Holdings Cut by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its holdings in Pro-Dex, Inc. (NASDAQ:PDEX – Get Rating) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 71,586 shares of the medical instruments supplier’s stock after selling 6,558 shares during the period. Acadian Asset Management LLC’s holdings in Pro-Dex were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wells Fargo & Company MN increased its stake in shares of Pro-Dex by 11.2% in the second quarter. Wells Fargo & Company MN now owns 3,283 shares of the medical instruments supplier’s stock valued at $101,000 after purchasing an additional 331 shares during the period. Morgan Stanley increased its stake in shares of Pro-Dex by 149.7% in the second quarter. Morgan Stanley now owns 2,622 shares of the medical instruments supplier’s stock valued at $80,000 after purchasing an additional 1,572 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Pro-Dex by 10.7% in the third quarter. BlackRock Inc. now owns 49,114 shares of the medical instruments supplier’s stock valued at $1,261,000 after purchasing an additional 4,752 shares during the period. 16.73% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PDEX opened at $16.51 on Wednesday. Pro-Dex, Inc. has a 12 month low of $12.40 and a 12 month high of $35.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.64 and a quick ratio of 2.10. The firm has a market capitalization of $59.75 million, a PE ratio of 18.98 and a beta of 1.12. The company’s 50 day simple moving average is $15.59 and its 200 day simple moving average is $20.11.

Several equities research analysts have commented on the stock. Ascendiant Capital Markets dropped their price target on shares of Pro-Dex to $30.00 and set a “na” rating on the stock in a research note on Monday. StockNews.com assumed coverage on shares of Pro-Dex in a research note on Friday, May 13th. They issued a “hold” rating on the stock.

Pro-Dex Company Profile (Get Rating)

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

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