Pro-Dex (NASDAQ:PDEX) Upgraded by Zacks Research to Hold Rating

Pro-Dex (NASDAQ:PDEX) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

PDEX has been the topic of a number of other reports. Ascendiant Capital Markets upped their price objective on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.00.

Pro-Dex Trading Up 4.4%

NASDAQ:PDEX opened at $63.47 on Tuesday. The firm’s fifty day moving average is $52.04 and its 200-day moving average is $43.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67. Pro-Dex has a 52 week low of $23.47 and a 52 week high of $63.92. The firm has a market cap of $202.47 million, a P/E ratio of 17.53 and a beta of -0.12.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.58. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. The company had revenue of $19.95 million for the quarter, compared to analyst estimates of $17.90 million. Equities analysts expect that Pro-Dex will post 3.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PDEX. Geode Capital Management LLC lifted its stake in shares of Pro-Dex by 93.2% in the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock valued at $2,255,000 after buying an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pro-Dex by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after buying an additional 14,479 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in shares of Pro-Dex by 42.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after buying an additional 14,408 shares in the last quarter. Corsair Capital Management L.P. bought a new position in shares of Pro-Dex in the first quarter valued at $532,000. Finally, Jane Street Group LLC purchased a new stake in shares of Pro-Dex in the first quarter valued at about $321,000. 15.28% of the stock is owned by institutional investors.

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.