Pro-Dex (NASDAQ:PDEX) Posts Quarterly Earnings Results, Beats Expectations By $0.46 EPS

Pro-Dex (NASDAQ:PDEX) issued its earnings results on Thursday. The medical instruments supplier reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.46, reports. Pro-Dex had a net margin of 9.17% and a return on equity of 16.69%. The company had revenue of $14.89 million for the quarter, compared to analyst estimates of $12.10 million.

Pro-Dex Stock Performance

Shares of NASDAQ PDEX opened at $36.94 on Friday. The company has a 50-day simple moving average of $27.30 and a 200-day simple moving average of $21.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.84 and a quick ratio of 1.66. The company has a market cap of $122.64 million, a PE ratio of 23.99 and a beta of 0.39. Pro-Dex has a 12 month low of $15.70 and a 12 month high of $46.50.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors and hedge funds have recently modified their holdings of the company. Perritt Capital Management Inc. lifted its stake in shares of Pro-Dex by 43.3% during the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after purchasing an additional 1,813 shares during the period. Renaissance Technologies LLC lifted its position in Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after buying an additional 900 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Analyst Upgrades and Downgrades

PDEX has been the topic of a number of research analyst reports. StockNews.com upgraded Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th. Ascendiant Capital Markets upped their target price on Pro-Dex from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 9th.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.