Pro-Dex (NASDAQ:PDEX) Coverage Initiated at StockNews.com

Posted by on Jun 25th, 2023

Investment analysts at StockNews.com began coverage on shares of Pro-Dex (NASDAQ:PDEX – Get Rating) in a report issued on Sunday. The brokerage set a “buy” rating on the medical instruments supplier’s stock.

Pro-Dex Stock Performance

Shares of PDEX stock opened at $19.15 on Friday. The stock has a market capitalization of $67.89 million, a PE ratio of 15.08 and a beta of 0.99. Pro-Dex has a 52-week low of $14.47 and a 52-week high of $21.43. The stock’s 50-day moving average price is $17.42 and its 200 day moving average price is $16.92. The company has a quick ratio of 1.58, a current ratio of 3.07 and a debt-to-equity ratio of 0.36.

Pro-Dex (NASDAQ:PDEX – Get Rating) last released its earnings results on Thursday, May 4th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter. Pro-Dex had a return on equity of 19.00% and a net margin of 9.72%. The company had revenue of $13.08 million for the quarter.

Hedge Funds Weigh In On Pro-Dex

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in Pro-Dex by 345.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier’s stock worth $48,000 after purchasing an additional 2,084 shares during the period. UBS Group AG grew its holdings in shares of Pro-Dex by 421.5% in the 1st quarter. UBS Group AG now owns 5,867 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 4,742 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Pro-Dex in the 2nd quarter worth approximately $168,000. State Street Corp grew its holdings in shares of Pro-Dex by 5.8% in the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock worth $197,000 after acquiring an additional 650 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Pro-Dex by 59.2% in the 1st quarter. JPMorgan Chase & Co. now owns 20,863 shares of the medical instruments supplier’s stock worth $345,000 after acquiring an additional 7,762 shares during the period. Institutional investors and hedge funds own 14.61% of the company’s stock.

About Pro-Dex

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Pro-Dex, Inc engages in the design, development and manufacture of rotary drive surgical and dental instruments. The firm specializes in medical devices and services, industrial and scientific, dental and component, repairs and other. Its products include finished medical devices, micro air-motors, dental products, plastic injection molding and torque wrenches.

Further Reading

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