Pro-Dex (NASDAQ:PDEX) Posts Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Pro-Dex (NASDAQ:PDEX) posted its earnings results on Thursday. The medical instruments supplier reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.25, FiscalAI reports. Pro-Dex had a net margin of 15.12% and a return on equity of 26.84%. The firm had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $20.40 million.

Pro-Dex Price Performance

Shares of Pro-Dex stock traded down $3.44 on Friday, reaching $58.16. The company’s stock had a trading volume of 38,488 shares, compared to its average volume of 42,564. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $187.86 million, a P/E ratio of 15.93 and a beta of 0.04. The stock has a 50-day moving average price of $64.77 and a 200-day moving average price of $56.47. Pro-Dex has a 52-week low of $28.81 and a 52-week high of $77.00.

Insider Buying and Selling

In related news, CFO Alisha Charlton sold 2,300 shares of the business’s 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 owned 21,870 shares of the company’s stock, valued at approximately $1,340,631. The trade was a 9.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $60.58, for a total transaction of $1,165,256.30. Following the transaction, the chief executive officer owned 79,993 shares of the company’s stock, valued at $4,845,975.94. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,300 shares of company stock worth $1,351,657 in the last quarter. Insiders own 48.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDEX. Weiss Ratings cut shares of Pro-Dex from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Ascendiant Capital Markets increased their target price on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Finally, Zacks Research upgraded Pro-Dex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $74.00.

About Pro-Dex

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.