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

Pro-Dex (NASDAQ:PDEX) posted its quarterly 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 Stock Down 1.3%

Shares of Pro-Dex stock traded down $0.83 on Thursday, hitting $61.75. The company had a trading volume of 61,092 shares, compared to its average volume of 48,759. The stock has a 50-day moving average of $61.84 and a 200-day moving average of $56.57. 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 twelve month low of $23.47 and a twelve month high of $69.86. The firm has a market capitalization of $196.98 million, a P/E ratio of 17.06 and a beta of 0.06.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently added to or reduced their stakes in PDEX. Los Angeles Capital Management LLC acquired a new position in shares of Pro-Dex during the fourth quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pro-Dex in the 2nd quarter valued at approximately $50,000. Bank of America Corp DE lifted its stake in Pro-Dex by 173.3% in the 2nd quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock valued at $74,000 after acquiring an additional 1,073 shares in the last quarter. Wells Fargo & Company MN boosted its position in Pro-Dex by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after acquiring an additional 915 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Pro-Dex during the 2nd quarter worth approximately $105,000. 15.28% of the stock is owned by institutional investors.

Pro-Dex Company Profile

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.