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 to investors on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. Ascendiant Capital Markets increased their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.00.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $63.47 on Tuesday. The firm has a 50-day moving average of $52.04 and a 200-day moving average of $43.76. The company has a market cap of $202.47 million, a P/E ratio of 17.53 and a beta of -0.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. Pro-Dex has a one year low of $23.47 and a one year high of $63.92.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating the consensus estimate of $0.62 by $0.58. The company had revenue of $19.95 million during the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. Equities research analysts forecast that Pro-Dex will post 3.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently added to or reduced their stakes in PDEX. Cubist Systematic Strategies LLC bought a new position in Pro-Dex during the first quarter valued at about $170,000. Jane Street Group LLC bought a new position in Pro-Dex during the first quarter valued at about $321,000. Geode Capital Management LLC grew its position in Pro-Dex by 93.2% during 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 during the period. JPMorgan Chase & Co. grew its position in Pro-Dex by 67.7% during 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 during the period. Finally, New York State Common Retirement Fund bought a new position in Pro-Dex during the second quarter valued at about $105,000. 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.