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

by · The Markets Daily

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, beating the consensus estimate of $0.59 by $0.07, FiscalAI reports. Pro-Dex had a net margin of 15.94% and a return on equity of 23.64%. The firm had revenue of $18.66 million during the quarter.

Pro-Dex Stock Performance

Shares of NASDAQ:PDEX traded down $0.02 during mid-day trading on Thursday, reaching $39.40. 13,051 shares of the company traded hands, compared to its average volume of 24,661. The company’s 50 day moving average price is $39.95 and its 200-day moving average price is $38.68. The firm has a market cap of $128.44 million, a PE ratio of 11.76 and a beta of -0.05. Pro-Dex has a 52 week low of $23.47 and a 52 week high of $70.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.73 and a quick ratio of 2.14.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Pro-Dex in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Get Our Latest Analysis on PDEX

Institutional Trading of Pro-Dex

Hedge funds and other institutional investors have recently modified their holdings of the company. Punch & Associates Investment Management Inc. boosted its holdings 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 worth $1,645,000 after buying an additional 14,408 shares during the period. Osaic Holdings Inc. lifted its position in shares of Pro-Dex by 23.6% in the second quarter. Osaic Holdings Inc. now owns 7,120 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 1,360 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Pro-Dex by 173.3% in the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after acquiring an additional 1,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pro-Dex during the second quarter worth about $50,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Pro-Dex during the second quarter worth about $105,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

Pro-Dex Company Profile

(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.

Featured Stories