Pro-Dex (NASDAQ:PDEX) Releases Earnings Results, Beats Expectations By $0.20 EPS

Pro-Dex (NASDAQ:PDEX) announced its quarterly earnings data on Thursday. The medical instruments supplier reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20, Zacks reports. The business had revenue of $20.40 million for the quarter, compared to analyst estimates of $19.20 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%.

Pro-Dex Trading Down 1.3%

NASDAQ PDEX opened at $61.75 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. The firm’s fifty day moving average price is $61.76 and its 200 day moving average price is $56.73. The company has a market capitalization of $197.17 million, a price-to-earnings ratio of 17.06 and a beta of 0.06. Pro-Dex has a 12 month low of $23.47 and a 12 month high of $69.86.

Institutional Investors Weigh In On Pro-Dex

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in shares of Pro-Dex during the fourth quarter worth about $220,000. Osaic Holdings Inc. lifted 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 valued at $440,000 after purchasing an additional 3,540 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Pro-Dex by 603.4% in the 4th quarter. Royal Bank of Canada now owns 4,080 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 3,500 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Pro-Dex in the 4th quarter valued at about $222,000. Finally, Wells Fargo & Company MN boosted its position in shares of Pro-Dex by 65.4% in the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock valued at $89,000 after purchasing an additional 915 shares during the period. 15.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research raised Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Ascendiant Capital Markets lifted their price target on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings cut Pro-Dex from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 24th. Finally, Wall Street Zen raised Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.00.

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.