Pro-Dex (NASDAQ:PDEX) Announces Earnings Results, Beats Estimates By $0.07 EPS

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

Pro-Dex Trading Down 0.1%

Shares of PDEX traded down $0.02 during mid-day trading on Thursday, reaching $39.40. 13,051 shares of the company were exchanged, compared to its average volume of 24,658. 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 quick ratio of 2.14 and a current ratio of 3.73. The business has a 50 day simple moving average of $39.95 and a two-hundred day simple moving average of $38.68. The stock has a market capitalization of $128.44 million, a PE ratio of 11.76 and a beta of -0.05.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pro-Dex in the second quarter worth approximately $50,000. Bank of America Corp DE boosted its holdings in shares of 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 worth $74,000 after buying an additional 1,073 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Pro-Dex in the second quarter worth $105,000. Cubist Systematic Strategies LLC purchased a new position in shares of Pro-Dex in the first quarter worth about $170,000. Finally, Jane Street Group LLC purchased a new stake in shares of Pro-Dex during the first quarter worth $321,000. 15.28% of the stock is owned by institutional investors.

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.