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

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

Pro-Dex Price Performance

PDEX traded up $5.92 during midday trading on Friday, hitting $36.94. The company had a trading volume of 449,157 shares, compared to its average volume of 12,990. Pro-Dex has a twelve month low of $15.70 and a twelve month high of $46.50. The firm’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. The company has a market capitalization of $122.75 million, a PE ratio of 23.99 and a beta of 0.39.

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently modified their holdings of PDEX. Dimensional Fund Advisors LP grew its position in shares of Pro-Dex by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the period. Perritt Capital Management Inc. grew its position in shares of Pro-Dex by 43.3% during the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock worth $106,000 after buying an additional 1,813 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after purchasing an additional 900 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

Analysts Set New Price Targets

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

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.