Pro-Dex, Inc.
- Open
- 58.87
- Day high
- 60.50
- Day low
- 58.40
- Prev close
- 58.55
- Volume
- 54K
- Mkt cap
- $190M
- P/E (TTM)
- 16.0
- EPS (TTM)
- $3.70
- P/B
- 4.2
- P/S
- 2.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$626K over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions mixed (13F)
Pro-Dex, Inc. (PDEX) is a Healthcare company listed on NASDAQ. The stock is up 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Pro-Dex, Inc. (PDEX) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PDEX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.62 | $1.20 | +93.5% | $20M | +11.4% |
| Jan 29, 2026 | $0.59 | $0.66 | +11.9% | $19M | +7.9% |
| Oct 30, 2025 | $0.50 | $0.62 | +24.0% | $19M | +21.1% |
| Sep 4, 2025 | $0.47 | $0.36 | -23.4% | $17M | +14.3% |
| May 1, 2025 | $0.47 | $0.98 | +108.5% | $17M | -2.7% |
| Jan 30, 2025 | $0.38 | $0.61 | +60.5% | $17M | +21.7% |
| Oct 31, 2024 | $0.29 | $0.75 | +158.6% | $15M | +17.3% |
| Sep 5, 2024 | $0.35 | $0.46 | +31.4% | $15M | +36.6% |
| May 2, 2024 | $0.35 | $0.19 | -45.7% | $14M | +34.8% |
| Feb 8, 2024 | $0.35 | $0.14 | -60.0% | $13M | +9.5% |
| Oct 13, 2023 | $0.32 | $0.42 | +31.2% | $12M | +3.8% |
| May 4, 2023 | $0.26 | $0.36 | +38.5% | $13M | +13.7% |
PDEX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 1,918 | $62.22 |
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 50 | $63.63 |
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 3,404 | $62.96 |
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 2,824 | $62.09 |
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 550 | $63.92 |
| May 26, 2026 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Sell | 1,254 | $62.93 |
| Jan 23, 2026 | Domingo Angelita Rebamontandirector | Grant | 18 | $34.36 |
| Nov 24, 2025 | Philp Katrina Marie Kramerdirector | Grant | 2,200 | $32.70 |
| Nov 24, 2025 | Philp Katrina Marie Kramerdirector | Grant | 900 | $32.73 |
| Nov 21, 2025 | HOVDA DAVIDdirector | Grant | 1,000 | — |
| Nov 21, 2025 | Van Kirk Richard Lee Jrdirector, officer: Chief Executive Officer | Tax | 72 | $30.83 |
| Nov 21, 2025 | Charlton Alishaofficer: Chief Financial Officer | Tax | 72 | $30.83 |
| Nov 21, 2025 | Domingo Angelita Rebamontandirector | Tax | 72 | $30.83 |
| Nov 21, 2025 | Philp Katrina Marie Kramerdirector | Grant | 1,000 | — |
| Nov 21, 2025 | CABILLOT RAYMOND Edirector, 10 percent owner: | Grant | 1,000 | — |
Source: PDEX SEC Form 4 filings, latest May 26, 2026. For informational purposes only — not investment advice.
See the full PDEX insider & 13F page →Pro-Dex, Inc. company profile
Overview
Pro-Dex, Inc. (NASDAQ:PDEX) is a specialized medical device manufacturer founded in 1978 and headquartered in Irvine, California. The company went public in 1986 and has established itself as a niche player in the powered surgical instruments market. Pro-Dex primarily serves as an original equipment manufacturer (OEM) partner to larger medical device companies, designing and manufacturing precision surgical tools used in orthopedic, thoracic, and craniomaxillofacial procedures. The company has built its reputation on producing high-quality, autoclavable surgical instruments that meet the stringent requirements of modern operating rooms.
Business
Pro-Dex operates in the medical instruments and supplies industry, specifically focusing on powered surgical instruments used in various surgical specialties. The company's core business revolves around designing, developing, and manufacturing surgical drivers and shavers that are essential tools in modern surgery. The company's primary products include autoclavable surgical instruments, which are battery-powered and electric devices that can withstand high-temperature sterilization processes required in hospitals. These instruments are primarily used in three key medical specialties: orthopedic surgery (bone and joint procedures), thoracic surgery (chest and lung procedures), and craniomaxillofacial surgery (skull, face, and jaw procedures). Surgical drivers are precision tools that power screws, pins, and other fasteners during bone repair procedures, while surgical shavers are used to remove tissue and bone material with high precision. Beyond surgical instruments, Pro-Dex also manufactures rotary air motors for various industrial applications outside of healthcare. Additionally, the company provides engineering, quality, and regulatory consulting services to help other medical device companies navigate the complex regulatory landscape and develop compliant products. The company operates primarily as an OEM supplier, meaning it manufactures products that are then branded and sold by larger medical device companies to hospitals and surgical centers. This business model allows Pro-Dex to focus on its manufacturing expertise while leveraging its partners' distribution networks and market relationships.
Revenue model
Pro-Dex generates revenue through multiple streams, with the primary source being product sales of manufactured surgical instruments to OEM partners. The company sells its powered surgical drivers and shavers to larger medical device companies, who then integrate these products into their broader surgical systems or rebrand them for sale to hospitals and surgical centers. The company's business model is built on long-term OEM partnerships where Pro-Dex serves as a specialized manufacturer for companies that prefer to outsource production rather than develop in-house manufacturing capabilities. This arrangement allows Pro-Dex to benefit from recurring orders and established relationships while its partners focus on marketing, distribution, and customer relationships. Secondary revenue streams include sales of rotary air motors to industrial customers and consulting services related to engineering, quality assurance, and regulatory compliance. The consulting services leverage Pro-Dex's expertise in navigating FDA regulations and medical device quality standards. Several factors can impact Pro-Dex's margins and profitability. Positive factors include the company's specialized manufacturing expertise, which commands premium pricing, and the recurring nature of OEM relationships that provide predictable revenue streams. The medical device industry's stringent quality requirements create barriers to entry that protect established players like Pro-Dex. Negative factors include exposure to raw material cost fluctuations, particularly for precision metals and electronic components, and dependence on a relatively small number of large OEM customers. Healthcare spending patterns, regulatory changes, and competition from larger integrated medical device manufacturers can also pressure margins. The company's small size relative to industry giants means it has limited negotiating power with suppliers and may face challenges in spreading fixed costs across larger production volumes.
Competitive moat
Pro-Dex operates in a specialized niche with moderate competitive advantages, though its moat is not particularly wide or deep. The company's primary competitive advantages stem from its specialized manufacturing expertise in producing autoclavable, precision surgical instruments that meet stringent medical device regulations. This expertise, developed over decades, creates some barriers to entry as competitors would need significant time and investment to replicate Pro-Dex's manufacturing capabilities and regulatory compliance. The company benefits from established OEM relationships with larger medical device companies, which provide some customer stickiness due to the costs and risks associated with switching suppliers for critical surgical instruments. Medical device companies are generally reluctant to change suppliers once they have validated a product's performance and regulatory compliance, as any changes require extensive testing and potential re-certification. However, Pro-Dex's moat faces several vulnerabilities. The company's small scale relative to industry giants limits its ability to invest heavily in research and development or achieve significant economies of scale. Large medical device companies like Medtronic, Stryker, or Johnson & Johnson have the resources to bring manufacturing in-house or partner with larger suppliers, potentially bypassing Pro-Dex entirely. Additionally, the company's dependence on a limited number of OEM customers creates concentration risk. The competitive threat comes primarily from larger, more diversified medical device manufacturers who might choose to integrate vertically, and from other specialized OEM manufacturers who could compete on price or capability. The barriers to entry, while meaningful, are not insurmountable for well-funded competitors with the determination to enter this niche market.
Risks & safety
Pro-Dex demonstrates a moderate margin of safety with some financial strengths but also notable vulnerabilities. • Liquidity and Solvency: The company maintains a strong current ratio of 2.73 and quick ratio of 1.45, indicating solid short-term liquidity. However, cash position is relatively low at $4.5 million, and the company experienced negative free cash flow of -$4.7 million in Q2 2025, raising concerns about cash generation consistency. • Debt Levels: Debt-to-equity ratio of 0.54 is manageable but not negligible. Total liabilities of $29 million against total assets of $64 million suggest reasonable leverage, though the company carries meaningful debt obligations. • Valuation Metrics: Current P/E ratio of 12.3 appears reasonable for a profitable company, though it has increased significantly from 9.8 a year ago. EV/EBITDA of 12.1 is moderate. Price-to-book ratio of 4.6 suggests the stock is not particularly cheap on an asset basis. • Profitability Trends: Net income has been volatile, ranging from $1.6 million to $3.3 million in recent quarters. Return on equity of 9.3% is decent but not exceptional. • Other Considerations: Small market capitalization of approximately $140 million creates liquidity risks and limits institutional investor interest. Revenue concentration with OEM customers creates customer dependency risk.
Recent development
Based on the available financial data, Pro-Dex has experienced significant growth and volatility over recent years. The company's revenue has grown from $42 million in fiscal 2022 to approximately $64 million on an annualized basis through the first three quarters of fiscal 2025, representing strong top-line growth. The company has demonstrated improved operational efficiency, with EBITDA margins expanding and profitability becoming more consistent. However, cash flow generation has been inconsistent, with the company experiencing negative free cash flow in some quarters, particularly Q2 2025 with -$4.7 million, followed by a recovery to positive $574,000 in Q3 2025. Pro-Dex appears to be benefiting from increased demand for its specialized surgical instruments, likely driven by broader trends in minimally invasive surgery and the recovery in elective procedures following the COVID-19 pandemic. The company's focus on autoclavable, reusable surgical instruments aligns with healthcare facilities' emphasis on cost-effective, environmentally sustainable surgical tools. The stock price has experienced significant appreciation, rising from approximately $14.63 in fiscal 2023 to $67.30 in the most recent quarter, reflecting investor optimism about the company's growth prospects and market position. This price appreciation has led to higher valuation multiples across most metrics.
PDEX company profile · for informational purposes only — not investment advice.
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