Pro-Dex (NASDAQ:PDEX) Posts Quarterly Earnings Results, Beats Expectations 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. The business had revenue of $20.40 million for the quarter, compared to analyst estimates of $19.20 million. Pro-Dex had a net margin of 17.62% and a return on equity of 25.84%.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX opened at $73.41 on Friday. Pro-Dex has a one year low of $23.47 and a one year high of $77.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. The company has a market cap of $234.18 million, a price-to-earnings ratio of 17.77 and a beta of 0.06. The firm has a 50 day simple moving average of $62.00 and a 200 day simple moving average of $56.84.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Pro-Dex by 93.2% in the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after purchasing an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Pro-Dex by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after purchasing an additional 14,479 shares in the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of Pro-Dex by 42.1% during the third quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock worth $1,645,000 after purchasing an additional 14,408 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Pro-Dex during the first quarter worth about $321,000. Finally, LPL Financial LLC acquired a new position in shares of Pro-Dex in the fourth quarter valued at approximately $228,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.