Pro-Dex (NASDAQ:PDEX) Issues Earnings Results

Pro-Dex (NASDAQ:PDEX) released its earnings results on Thursday. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.20, Zacks reports. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.

Pro-Dex Price Performance

PDEX traded down $0.83 on Thursday, hitting $61.75. 61,418 shares of the company were exchanged, compared to its average volume of 48,786. Pro-Dex has a fifty-two week low of $23.47 and a fifty-two week high of $69.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67. The firm has a market capitalization of $196.98 million, a P/E ratio of 17.06 and a beta of 0.06. The business’s fifty day moving average is $61.84 and its 200 day moving average is $56.57.

Analyst Ratings Changes

PDEX has been the subject of several recent analyst reports. Wall Street Zen raised Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research raised Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Ascendiant Capital Markets increased their price objective on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded Pro-Dex from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.00.

Institutional Investors Weigh In On Pro-Dex

Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings in shares of Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock worth $440,000 after acquiring an additional 3,540 shares during the period. Jane Street Group LLC acquired a new position in Pro-Dex during the first quarter worth $321,000. LPL Financial LLC acquired a new position in Pro-Dex during the fourth quarter worth $228,000. First Trust Advisors LP purchased a new stake in Pro-Dex during the fourth quarter worth $222,000. Finally, Quadrature Capital Ltd purchased a new stake in Pro-Dex during the fourth quarter worth $220,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Pro-Dex

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.