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

Pro-Dex (NASDAQ:PDEX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

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

Pro-Dex Stock Up 7.4%

PDEX stock opened at $71.85 on Tuesday. Pro-Dex has a 52-week low of $23.47 and a 52-week high of $77.00. The company’s 50 day simple moving average is $62.92 and its 200-day simple moving average is $58.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.10 and a quick ratio of 2.45. The firm has a market capitalization of $229.92 million, a P/E ratio of 17.40 and a beta of 0.06.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 EPS for the quarter, beating the consensus estimate of $0.67 by $0.20. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. The business had revenue of $20.40 million during the quarter, compared to the consensus estimate of $19.20 million. As a group, equities research analysts anticipate that Pro-Dex will post 3.09 EPS for the current year.

Insider Activity at Pro-Dex

In related news, 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 transaction of $140,990.00. Following the completion of the sale, the chief financial officer directly owned 21,870 shares in the company, valued at approximately $1,340,631. This trade represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $59.36, for a total transaction of $45,410.40. Following the transaction, the chief executive officer directly owned 79,228 shares in the company, valued at $4,702,974.08. The trade was a 0.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,300 shares of company stock valued at $1,351,657. 45.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

Institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC raised its holdings in shares of Pro-Dex by 6.2% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock valued at $286,000 after purchasing an additional 339 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock worth $3,032,000 after purchasing an additional 1,735 shares in the last quarter. Navellier & Associates Inc. bought a new stake in Pro-Dex in the second quarter worth $322,000. Corsair Capital Management L.P. acquired a new position in Pro-Dex during the first quarter worth $532,000. Finally, Bank of New York Mellon Corp acquired a new position in Pro-Dex during the second quarter worth $678,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Pro-Dex News Roundup

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.