Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
Long Cast Advisers Avram Fisher | “The PDEX pitch offered an attempt to quantify the anticipated incremental benefits to operations if Zimmer succeeds with the mBos robot commercialization (a *corrected* version of the s” | BULL | Q2 2026 Aug 3, 2026 | View Pitch |
Long Cast Advisers Avram Fisher | “The PDEX pitch offered an attempt to quantify the anticipated incremental benefits to operations if Zimmer succeeds with the mBos robot commercialization (a *correct...” | BULL | Q2 2026 Aug 3, 2026 | View Pitch |
SRK Capital Sean Kirkwood | “Pro-Dex Inc. ($PDEX) is a specialized medical technology engineering firm that designs, manufactures, and services miniature powered surgical instruments for global medical device original equipment manufacturers (OEMs). The manager established the position following market overreactions regarding the potential loss of its key client, which was subsequently resolved via an exclusive contract extension through 2028. The core thesis rests on purchasing the stable surgical tools business at a reasonable price while obtaining substantial upside optionality from robotic surgery partnerships. Pro-Dex maintains a wide economic moat rooted in high regulatory switching barriers, validated manufacturing certifications, and proprietary engineering intellectual property that prevents OEMs from readily changing suppliers. Beyond its core surgical handpieces, Pro-Dex serves as the exclusive hardware partner for Zimmer Biomet's mBôs surgical robot. This arrangement provides attractive unit economics through procedure-linked sourced product fees on single-use consumable cutting accessories, generating recurring, high-margin revenue with high returns on invested capital. Furthermore, vertically integrating via the acquisition of Advanced Precision Machining expands gross margins by eliminating subcontractor markups. Catalysts include the commercial rollout of the mBôs robotic surgery system, potential milestone payouts from 2.2 million contingent value rights (CVRs) worth up to $6.80 per share, and operational expansion into aerospace and defense machining. Key risks include customer concentration with large medical OEMs and potential delays in hospital robotic platform adoption.” | BULL | Q2 2026 Aug 1, 2026 | View Pitch |
Long Cast Advisers Avram Fisher | “Pro-Dex's long-term upside remains anchored in historical 20% compounding of book value per share and key commercial partnerships. While short-term margins might be impacted by a supplier acquisition, its critical role supplying Zimmer Biomet's upcoming mBos system provides highly asymmetric upside potential.” | BULL | Q1 2026 Mar 31, 2026 | View Pitch |
Long Cast Advisers Avram Fisher | “We have been invested in PDEX for several years. It is a contract manufacturer with a niche software-embedded surgical tool for driving screws without stripping. It has a long history of incremental improvement, value creation, a raft of tailwinds and fewer than 4M shares outstanding, which they typically buy back opportunistically. I recently attended the shareholder meeting and appreciate the company‚Äôs incremental approach to long term strategic investment and value creation. Most compelling of all is our purchase price; in the low-$30‚Äôs it is trading at 8x trailing EBITDA and more than 50% below its 52-week high. With a depressed stock and catalysts on the horizon, my confidence in its likelihood of becoming a five year double warrants a concentrated position. It is now a top-five holding. BSD Analysis: Pro-Dex, Inc. is a specialty contract manufacturer and design firm focused on high-precision, powered surgical and dental devices, such as autoclavable surgical drivers. The company's niche moat lies in its expertise in embedded motion control and proprietary adaptive torque-limiting software for surgical handpieces, which are critical components for major medical OEMs. Recent performance shows strong financial momentum, with Q1 revenue surging 24% and net income more than doubling year-over-year. This growth is being driven by accelerating shipments of next-generation handpieces for key customers, validating the quality of its specialized engineering services. Despite external headwinds from tariffs and rising costs that pressured gross margins, the underlying demand for its niche products remains robust, signaling strong operational execution. With an EV/EBITDA of roughly 8.6x and consensus analyst targets suggesting 45%+ upside, the stock offers a compelling value proposition in the resilient medical device outsourcing market.” | BULL | Q3 2025 Nov 1, 2025 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
