Pro-Dex (NASDAQ:PDEX - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Ascendiant Capital Markets boosted their target price on Pro-Dex from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Wall Street Zen raised Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings upgraded Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $74.00.

Check Out Our Latest Stock Analysis on PDEX

Pro-Dex Stock Up 7.4%

Pro-Dex stock opened at $71.85 on Tuesday. Pro-Dex has a 52 week low of $23.47 and a 52 week high of $77.00. The stock has a market cap of $229.92 million, a price-to-earnings ratio of 17.40 and a beta of 0.06. The company's 50-day moving average price is $62.92 and its two-hundred day moving average price is $58.37. The company has a current ratio of 4.10, a quick ratio of 2.45 and a debt-to-equity ratio of 0.28.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its quarterly earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.20. The company had revenue of $20.40 million during the quarter, compared to analyst estimates of $19.20 million. Pro-Dex had a net margin of 17.62% and a return on equity of 25.13%. On average, analysts expect that Pro-Dex will post 3.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alisha Charlton sold 2,300 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total transaction of $140,990.00. Following the completion of the sale, the chief financial officer directly owned 21,870 shares of the company's stock, valued at $1,340,631. This represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 79,228 shares of the company's stock, valued at approximately $4,702,974.08. This represents a 0.96% 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 sold a total of 22,300 shares of company stock worth $1,351,657 over the last quarter. Insiders own 45.90% of the company's stock.

Institutional Investors Weigh In On Pro-Dex

A number of institutional investors and hedge funds have recently modified their holdings of PDEX. Navellier & Associates Inc. bought a new stake in shares of Pro-Dex during the 2nd quarter worth $322,000. Morgan Dempsey Capital Management LLC raised its position in shares of Pro-Dex by 6.2% during the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier's stock worth $286,000 after purchasing an additional 339 shares during the period. Corsair Capital Management L.P. acquired a new stake in shares of Pro-Dex during the first quarter worth $532,000. Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex during the second quarter worth $678,000. Finally, Punch & Associates Investment Management Inc. lifted its holdings in shares of Pro-Dex by 23.4% during 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 purchasing an additional 11,392 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company's stock.

More Pro-Dex News

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.

Pro-Dex Company Profile

(Get Free Report)

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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