Pro-Dex (NASDAQ:PDEX) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Pro-Dex (NASDAQ:PDEX) to a hold rating in a research note released on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Ascendiant Capital Markets boosted their price objective on Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One 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, Pro-Dex currently has an average rating of “Hold” and an average price target of $70.00.

Pro-Dex Stock Performance

Shares of PDEX opened at $63.47 on Tuesday. The stock has a 50 day moving average price of $52.04 and a 200 day moving average price of $43.76. The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $202.47 million, a price-to-earnings ratio of 17.53 and a beta of -0.12. Pro-Dex has a 52-week low of $23.47 and a 52-week high of $63.92.

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

Institutional Investors Weigh In On Pro-Dex

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Pro-Dex during the fourth quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pro-Dex during the second quarter worth approximately $50,000. AlphaQuest LLC purchased a new stake in shares of Pro-Dex during the third quarter worth approximately $71,000. Bank of America Corp DE raised its stake in shares of Pro-Dex by 173.3% during the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 1,073 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Pro-Dex by 65.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after purchasing an additional 915 shares during the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.