Pro-Dex (NASDAQ:PDEX) Announces Earnings Results

Pro-Dex (NASDAQ:PDEX) released its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.20, Zacks reports. The business had revenue of $20.41 million during the quarter, compared to the consensus estimate of $19.20 million. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.

Pro-Dex Stock Up 4.2%

NASDAQ:PDEX traded up $2.92 during mid-day trading on Friday, reaching $72.39. The company’s stock had a trading volume of 64,886 shares, compared to its average volume of 51,447. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. Pro-Dex has a 1 year low of $23.47 and a 1 year high of $77.00. The stock has a fifty day moving average of $63.07 and a 200-day moving average of $58.55. The firm has a market capitalization of $231.66 million, a PE ratio of 17.53 and a beta of 0.06.

Insider Transactions at Pro-Dex

In other news, CFO Alisha Charlton sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total value of $140,990.00. Following the completion of the sale, the chief financial officer owned 21,870 shares of the company’s stock, valued at approximately $1,340,631. This represents a 9.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of Pro-Dex stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $60.58, for a total transaction of $1,165,256.30. Following the transaction, the chief executive officer directly owned 79,993 shares in the company, valued at approximately $4,845,975.94. The trade was a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,300 shares of company stock worth $1,351,657 in the last three months. Insiders own 45.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PDEX. Wall Street Zen raised shares of Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Ascendiant Capital Markets raised their target price on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, September 11th. Finally, Zacks Research raised shares of Pro-Dex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, Pro-Dex currently has a consensus rating of “Buy” and a consensus price target of $74.00.

Pro-Dex Company Profile

Pro-Dex, Inc is a medical device manufacturer that designs, develops and produces powered surgical instruments and related equipment. The company primarily serves original equipment manufacturers (OEMs), which incorporate Pro-Dex products into surgical systems sold under their own brands.

Its product portfolio includes battery-powered and electric handpieces, controllers, drivers, saws, microdebriders and other precision instruments used in medical and dental procedures. Pro-Dex also provides related components and accessories, including batteries, chargers and instrument controls, as well as engineering, manufacturing and product-development support for its customers.

Based in Irvine, California, Pro-Dex serves customers in the United States and international markets.