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

Pro-Dex (NASDAQ:PDEX) released its earnings results on Thursday. The medical instruments supplier reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25, FiscalAI reports. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. The company had revenue of $20.56 million for the quarter, compared to analyst estimates of $20.40 million.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX traded down $0.75 during trading on Friday, reaching $60.85. The stock had a trading volume of 11,511 shares, compared to its average volume of 50,963. The stock has a market cap of $196.56 million, a PE ratio of 14.73 and a beta of 0.04. The business has a fifty day moving average price of $64.93 and a 200-day moving average price of $56.39. Pro-Dex has a 1-year low of $28.81 and a 1-year high of $77.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.45 and a current ratio of 4.10.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 research report on Friday, September 11th. Weiss Ratings cut shares of Pro-Dex from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Finally, Zacks Research upgraded Pro-Dex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $74.00.

Insider Activity at Pro-Dex

In related news, CEO Kirk Richard Lee Van, Jr. sold 19,235 shares of the stock in a transaction dated 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 approximately $4,845,975.94. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred 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 completion of the transaction, the chief financial officer owned 21,870 shares of the company’s stock, valued at $1,340,631. This represents a 9.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 22,300 shares of company stock valued at $1,351,657 over the last quarter. 48.00% of the stock is currently owned by company insiders.

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.