Pro-Dex (NASDAQ:PDEX) Announces Earnings Results

Pro-Dex (NASDAQ:PDEX) issued its quarterly earnings results on Thursday. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07, FiscalAI reports. Pro-Dex had a return on equity of 23.64% and a net margin of 15.94%.The firm had revenue of $18.66 million during the quarter.

Pro-Dex Stock Down 0.1%

NASDAQ PDEX traded down $0.02 during trading hours on Thursday, reaching $39.40. 13,051 shares of the company’s stock traded hands, compared to its average volume of 24,658. The firm has a 50-day simple moving average of $39.95 and a 200 day simple moving average of $38.68. The firm has a market cap of $128.44 million, a PE ratio of 11.76 and a beta of -0.05. Pro-Dex has a 52-week low of $23.47 and a 52-week high of $70.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.73 and a quick ratio of 2.14.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Pro-Dex in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Pro-Dex has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Institutional Trading of Pro-Dex

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Pro-Dex by 173.3% during 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pro-Dex during the 2nd quarter valued at approximately $50,000. Osaic Holdings Inc. grew its stake in Pro-Dex by 23.6% during the second quarter. Osaic Holdings Inc. now owns 7,120 shares of the medical instruments supplier’s stock valued at $311,000 after acquiring an additional 1,360 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Pro-Dex during the 2nd quarter valued at approximately $105,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Pro-Dex in the first quarter worth about $170,000. 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.