Pro-Dex (NASDAQ:PDEX) Announces Quarterly Earnings Results

Pro-Dex (NASDAQ:PDEX) released its quarterly earnings data on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.20, Zacks reports. Pro-Dex had a return on equity of 26.18% and a net margin of 15.12%. The firm had revenue of $20.41 million for the quarter, compared to analyst estimates of $19.20 million.

Pro-Dex Stock Performance

Shares of NASDAQ:PDEX traded up $0.73 on Monday, reaching $58.89. 21,820 shares of the company’s stock were exchanged, compared to its average volume of 50,955. The company has a fifty day moving average of $64.77 and a 200-day moving average of $56.47. Pro-Dex has a twelve month low of $28.81 and a twelve month high of $77.00. The company has a market capitalization of $188.45 million, a price-to-earnings ratio of 16.10 and a beta of 0.12. The company has a current ratio of 4.19, a quick ratio of 2.49 and a debt-to-equity ratio of 0.25.

Insider Activity at Pro-Dex

In related news, CFO Alisha Charlton sold 2,300 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $61.30, for a total transaction of $140,990.00. Following the sale, the chief financial officer owned 21,870 shares of the company’s stock, valued at $1,340,631. This represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $59.36, for a total value of $45,410.40. Following the transaction, the chief executive officer owned 79,228 shares in the company, valued at approximately $4,702,974.08. This trade represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,300 shares of company stock valued at $1,351,657. 48.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PDEX shares. Ascendiant Capital Markets upped their target price on Pro-Dex from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Weiss Ratings downgraded Pro-Dex from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, Zacks Research upgraded Pro-Dex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $74.00.

Pro-Dex Company Profile

Pro-Dex, Inc (NASDAQ:PDEX) designs, develops and manufactures powered surgical instruments and related products for the medical device industry. The company primarily serves original equipment manufacturers that incorporate Pro-Dex instruments into surgical systems sold under their own brands.

Its products include battery-powered and pneumatic handpieces, rotary instruments, micro-drills, saws, controllers and other specialized equipment used in orthopedic, dental, ophthalmic and other surgical applications.