Pro-Dex (NASDAQ:PDEX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Pro-Dex (NASDAQ:PDEX) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

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

Pro-Dex Price Performance

PDEX stock opened at $71.85 on Tuesday. The company has a market cap of $229.92 million, a PE ratio of 17.40 and a beta of 0.06. The company has a current ratio of 4.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $62.92 and a two-hundred day moving average price of $58.37. Pro-Dex has a 12-month low of $23.47 and a 12-month high of $77.00.

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

Insiders Place Their Bets

In related news, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 79,228 shares of the company’s stock, valued at approximately $4,702,974.08. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $61.30, for a total transaction of $140,990.00. Following the sale, the chief financial officer directly owned 21,870 shares in the company, valued at $1,340,631. This trade represents a 9.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,300 shares of company stock valued at $1,351,657. Company insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Navellier & Associates Inc. acquired a new stake in Pro-Dex during the 2nd quarter valued at approximately $322,000. Morgan Dempsey Capital Management LLC boosted its stake 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 buying an additional 339 shares during the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Pro-Dex during the first quarter worth approximately $532,000. Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex during the second quarter worth approximately $678,000. Finally, Punch & Associates Investment Management Inc. raised its holdings in Pro-Dex by 23.4% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 60,000 shares of the medical instruments supplier’s stock valued at $2,309,000 after acquiring an additional 11,392 shares in the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Trending Headlines about Pro-Dex

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.