Pro-Dex, Inc. (PDEX) shares ended the last trading session 8.2% higher at $53.5. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.1% gain over the past four weeks.
The recent surge in Pro-Dex Inc.'s shares is likely driven by growing institutional interest and a sustained uptrend that began in August 2024. Recent SEC filings revealed that prominent investors, including Navellier & Associates and Northern Trust, have initiated or expanded their positions in the company, suggesting increasing confidence in its fundamentals. This accumulation, along with the stock’s steady upward momentum over the past year, appears to have supported the latest move higher.
This company is expected to post quarterly earnings of $0.47 per share in its upcoming report, which represents a year-over-year change of +2.2%. Revenues are expected to be $17.9 million, up 19.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ProDex, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PDEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ProDex is part of the Zacks Medical - Dental Supplies industry. McKesson (MCK), another stock in the same industry, closed the last trading session 0.8% lower at $706.28. MCK has returned -1.9% in the past month.
McKesson's consensus EPS estimate for the upcoming report has changed +1.1% over the past month to $8.23. Compared to the company's year-ago EPS, this represents a change of +4.4%. McKesson currently boasts a Zacks Rank of #3 (Hold).
Higher. Faster. Sooner. Buy These Stocks Now
A small number of stocks are primed for a breakout, and you have a chance to get in before they take off.
At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.
You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.
Download the report free now >>Pro-Dex, Inc. (PDEX) : Free Stock Analysis Report
McKesson Corporation (MCK) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
