Pro-Dex (NASDAQ:PDEX) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Pro-Dex's stock has been given a "Hold (C+)" rating by Weiss Ratings, indicating a cautious outlook from investment analysts.
• The company reported a missed earnings estimate for the quarter with earnings per share at $0.36, below the consensus estimate of $0.47.
• Pro-Dex has recently seen significant activity from institutional investors, with many increasing their holdings in the company during the first quarter.

Pro-Dex (NASDAQ:PDEX - Get Free Report)'s stock had its "hold (c+)" rating reiterated by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut shares of Pro-Dex from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

Pro-Dex Trading Up 5.9%

Shares of PDEX opened at $34.74 on Wednesday. The firm's 50-day moving average price is $39.98 and its 200-day moving average price is $45.81. The firm has a market capitalization of $113.25 million, a price-to-earnings ratio of 12.87 and a beta of -0.11. The company has a current ratio of 3.23, a quick ratio of 1.71 and a debt-to-equity ratio of 0.25. Pro-Dex has a 1-year low of $26.28 and a 1-year high of $70.26.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last announced its earnings results on Thursday, September 4th. The medical instruments supplier reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.11). The company had revenue of $17.49 million for the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a net margin of 13.48% and a return on equity of 26.67%. Sell-side analysts anticipate that Pro-Dex will post 2 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ritholtz Wealth Management raised its holdings in Pro-Dex by 30.3% in the first quarter. Ritholtz Wealth Management now owns 15,944 shares of the medical instruments supplier's stock worth $791,000 after buying an additional 3,711 shares during the last quarter. Navellier & Associates Inc. purchased a new position in Pro-Dex in the first quarter worth about $1,094,000. American Century Companies Inc. raised its holdings in Pro-Dex by 3.0% in the first quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier's stock worth $610,000 after buying an additional 355 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Pro-Dex by 5.2% in the first quarter. Acadian Asset Management LLC now owns 59,276 shares of the medical instruments supplier's stock worth $2,937,000 after buying an additional 2,931 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Pro-Dex by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 6,415 shares of the medical instruments supplier's stock worth $318,000 after buying an additional 2,096 shares during the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

Pro-Dex Company Profile

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.

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