Pro-Dex (NASDAQ:PDEX) Stock Rating Upgraded by Zacks Research

Pro-Dex (NASDAQ:PDEX) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Finally, Ascendiant Capital Markets raised their price target on shares of Pro-Dex from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $74.00.

Pro-Dex Stock Performance

Pro-Dex stock opened at $71.85 on Tuesday. The stock’s 50 day moving average price is $62.92 and its 200 day moving average price is $58.37. The firm has a market capitalization of $229.92 million, a PE ratio of 17.40 and a beta of 0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10. Pro-Dex has a one year low of $23.47 and a one year high of $77.00.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%.The firm had revenue of $20.40 million during the quarter, compared to analysts’ expectations of $19.20 million. As a group, sell-side analysts expect that Pro-Dex will post 3.09 EPS for the current fiscal year.

Insider Transactions at Pro-Dex

In related news, CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $60.58, for a total value of $1,165,256.30. Following the completion of the transaction, the chief executive officer owned 79,993 shares of the company’s stock, valued at approximately $4,845,975.94. This represents a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alisha Charlton sold 2,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total value of $140,990.00. Following the sale, the chief financial officer owned 21,870 shares of the company’s stock, valued at approximately $1,340,631. This trade represents a 9.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,300 shares of company stock valued at $1,351,657 in the last three months. 45.90% of the stock is currently owned by company insiders.

Institutional Trading of Pro-Dex

A number of hedge funds have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC raised its stake in Pro-Dex by 6.2% during the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock valued at $286,000 after buying an additional 339 shares in the last quarter. Punch & Associates Investment Management Inc. grew its position in shares of Pro-Dex by 2.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock worth $3,032,000 after acquiring an additional 1,735 shares in the last quarter. Navellier & Associates Inc. acquired a new position in shares of Pro-Dex in the 2nd quarter worth approximately $322,000. Corsair Capital Management L.P. bought a new stake in shares of Pro-Dex in the 1st quarter valued at approximately $532,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the 2nd quarter valued at approximately $678,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

More Pro-Dex News

Here are the key news stories impacting Pro-Dex this week:

• Positive Sentiment: Ascendiant raised its FY2027 EPS forecast to $3.09 from $2.78, while increasing estimates for Q1, Q2, and Q3 2027. The firm also lifted its Q4 2027 forecast to $0.87 from $0.70, signaling expectations for stronger profitability at the medical-instruments supplier.
• Positive Sentiment: Ascendiant maintained a Buy rating and a $74 price target. Its longer-term projections call for FY2028 EPS of $3.36, with quarterly estimates ranging from $0.77 to $0.91.
• Positive Sentiment: The revised FY2027 outlook is above the previously cited $2.78 consensus estimate, which may reinforce the view that Pro-Dex’s earnings momentum is improving.

About Pro-Dex

Pro-Dex, Inc is a medical device manufacturer that designs, develops and produces powered surgical instruments and related equipment. The company primarily serves original equipment manufacturers (OEMs), which incorporate Pro-Dex products into surgical systems sold under their own brands.

Its product portfolio includes battery-powered and electric handpieces, controllers, drivers, saws, microdebriders and other precision instruments used in medical and dental procedures. Pro-Dex also provides related components and accessories, including batteries, chargers and instrument controls, as well as engineering, manufacturing and product-development support for its customers.

Based in Irvine, California, Pro-Dex serves customers in the United States and international markets.