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

Pro-Dex (NASDAQ:PDEX) issued its quarterly earnings data on Thursday. The medical instruments supplier reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.46, reports. Pro-Dex had a net margin of 3.95% and a return on equity of 6.82%. The company had revenue of $14.89 million during the quarter, compared to the consensus estimate of $12.10 million.

Pro-Dex Stock Up 19.1 %

Pro-Dex stock traded up $5.92 during mid-day trading on Friday, reaching $36.94. The company’s stock had a trading volume of 449,157 shares, compared to its average volume of 12,990. The business’s 50 day simple moving average is $27.30 and its 200 day simple moving average is $21.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 2.84. Pro-Dex has a 12 month low of $15.70 and a 12 month high of $46.50. The company has a market capitalization of $122.75 million, a price-to-earnings ratio of 23.99 and a beta of 0.39.

Institutional Trading of Pro-Dex

Several institutional investors and hedge funds have recently bought and sold shares of PDEX. Renaissance Technologies LLC boosted its holdings in shares of Pro-Dex by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after buying an additional 900 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $1,238,000 after buying an additional 3,067 shares during the last quarter. Finally, Perritt Capital Management Inc. boosted its holdings in shares of Pro-Dex by 43.3% in the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after buying an additional 1,813 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Pro-Dex

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.