Pro-Dex (NASDAQ:PDEX) Issues Earnings Results

Pro-Dex (NASDAQ:PDEX) announced its earnings results on Thursday. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25, FiscalAI reports. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. The company had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $20.40 million.

Pro-Dex Trading Down 2.5%

PDEX stock traded down $1.59 during midday trading on Thursday, hitting $61.60. The stock had a trading volume of 43,096 shares, compared to its average volume of 42,547. The firm has a market cap of $198.97 million, a PE ratio of 18.86 and a beta of 0.04. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.10 and a quick ratio of 2.45. Pro-Dex has a 12-month low of $28.81 and a 12-month high of $77.00. The company’s 50-day moving average price is $64.93 and its 200 day moving average price is $56.39.

Insider Buying and Selling at Pro-Dex

In other news, CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of Pro-Dex stock in a transaction on 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 sale, the chief executive officer owned 79,993 shares of the company’s stock, valued at $4,845,975.94. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alisha Charlton sold 2,300 shares of Pro-Dex stock in a transaction 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 completion of the sale, the chief financial officer directly owned 21,870 shares of the company’s stock, valued at approximately $1,340,631. This represents a 9.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,300 shares of company stock valued at $1,351,657 over the last quarter. 48.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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