Pro-Dex (NASDAQ:PDEX) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

by · The Cerbat Gem

Pro-Dex (NASDAQ:PDEX – Get Free Report) released its quarterly earnings data on Thursday. The medical instruments supplier reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07, FiscalAI reports. Pro-Dex had a net margin of 15.73% and a return on equity of 23.09%. The firm had revenue of $18.66 million for the quarter, compared to analyst estimates of $17.30 million.

Pro-Dex Trading Down 0.4%

PDEX stock opened at $39.23 on Friday. Pro-Dex has a 52-week low of $23.47 and a 52-week high of $70.26. The company has a quick ratio of 2.14, a current ratio of 3.73 and a debt-to-equity ratio of 0.21. The firm has a market cap of $127.89 million, a P/E ratio of 11.54 and a beta of -0.05. The company’s 50-day simple moving average is $40.25 and its 200-day simple moving average is $38.63.

Institutional Trading of Pro-Dex

A number of institutional investors and hedge funds have recently made changes to their positions in PDEX. Geode Capital Management LLC grew its stake in Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock valued at $2,255,000 after acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after acquiring an additional 14,479 shares during the period. Punch & Associates Investment Management Inc. grew its position in Pro-Dex by 42.1% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after acquiring an additional 14,408 shares in the last quarter. Jane Street Group LLC purchased a new stake in Pro-Dex during the first quarter worth about $321,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Pro-Dex during the first quarter worth about $170,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Pro-Dex in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Get Our Latest Analysis on PDEX

About Pro-Dex

(Get Free Report)

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.

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