Pro-Dex (NASDAQ:PDEX) Raised to “Hold” at Zacks Research

Pro-Dex (NASDAQ:PDEX) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Pro-Dex in a research report on Friday, May 1st. Ascendiant Capital Markets upped their price objective on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Pro-Dex Trading Up 4.4%

Shares of Pro-Dex stock opened at $63.47 on Tuesday. The firm has a 50-day simple moving average of $52.04 and a two-hundred day simple moving average of $43.76. The company has a market cap of $202.47 million, a P/E ratio of 17.53 and a beta of -0.12. Pro-Dex has a fifty-two week low of $23.47 and a fifty-two week high of $63.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.58. The business had revenue of $19.95 million during the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. As a group, equities analysts predict that Pro-Dex will post 3.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PDEX. Geode Capital Management LLC lifted its stake 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 valued at $2,255,000 after buying an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Pro-Dex by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after buying an additional 14,479 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its stake in Pro-Dex by 42.1% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after buying an additional 14,408 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in Pro-Dex in the 1st quarter valued at about $532,000. Finally, Jane Street Group LLC purchased a new position in Pro-Dex in the 1st quarter valued at about $321,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

About Pro-Dex

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.