Pro-Dex (NASDAQ:PDEX – Get Free Report) had its price target upped by Ascendiant Capital Markets from $56.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Ascendiant Capital Markets’ target price indicates a potential upside of 23.87% from the stock’s current price.
Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Pro-Dex has a consensus rating of “Moderate Buy” and an average target price of $70.00.
Check Out Our Latest Stock Report on Pro-Dex
Pro-Dex Stock Performance
Pro-Dex (NASDAQ:PDEX – Get Free Report) last posted its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.58. The company had revenue of $19.95 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%.
Hedge Funds Weigh In On Pro-Dex
A number of institutional investors have recently bought and sold shares of PDEX. Los Angeles Capital Management LLC bought a new position in Pro-Dex in the fourth quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pro-Dex in the second quarter worth about $50,000. AlphaQuest LLC bought a new position in Pro-Dex in the third quarter worth about $71,000. Bank of America Corp DE raised its stake in Pro-Dex by 173.3% in the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after buying an additional 1,073 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Pro-Dex by 65.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after buying an additional 915 shares in the last quarter. 15.28% of the stock is owned by institutional investors.
About Pro-Dex
Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.
Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.
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