5 Best Medical Device Stocks To Buy Now

2. Pro-Dex, Inc. (NASDAQ:PDEX)

Forward P/E ratio as of December 10: 12.41

Number of Hedge Fund Holders: 1

Pro-Dex, Inc. (NASDAQ:PDEX) develops and manufactures devices for the medical and dental industry. The company’s powered rotary drive surgical and dental instruments are employed predominantly in the orthopedic, spine, and dental markets. Pro-Dex, Inc. (NASDAQ:PDEX)’s product portfolio also has multi-axis motion control systems that are used in scientific research and factory automation markets.

On November 03, 2022, Pro-Dex, Inc. (NASDAQ:PDEX) reported its Q1 fiscal 2023 result, reporting revenue of $11.1 million, beating expectations by $0.9 million. The company’s EPS was reported at $0.29, missing analyst estimates by $0.04. The CEO, while commenting on the quarter’s results, stated that the company would have more opportunities for revenue growth in Q4 as it has received authorization from FDA for their Franklin facility.

As per Insider Monkey’s database, 1 hedge fund had stakes in Pro-Dex, Inc. (NASDAQ:PDEX) at the end of the third quarter. Covalent Capital Partners remained the leading stakeholder in the company at the end of Q3 2022.