Core Insights - Long Cast Advisers reported a cumulative net return improvement of 4% in Q3 2025, with a total cumulative return of 266% net of fees since inception in November 2015, translating to a 14% CAGR [1] Company Summary - Pro-Dex, Inc. (NASDAQ:PDEX) is highlighted as a key stock in Long Cast Advisers' Q3 2025 investor letter, specializing in powered surgical instruments for medical device OEMs [2] - The stock of Pro-Dex, Inc. experienced a one-month return of 1.50% but has seen a significant decline of 25.65% over the past 52 weeks, closing at $36.44 per share with a market capitalization of $119.523 million as of November 28, 2025 [2] - Pro-Dex, Inc. issued a press release in mid-September addressing a significant stock decline, clarifying that it is not associated with a blockchain platform sharing the same ticker, and added a risk disclosure regarding potential AI-related errors affecting the stock [3]

Group 1 - Alpha Cognition Inc. reported a quarterly loss of $0.65 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.46, and compared to a loss of $0.25 per share a year ago, indicating an earnings surprise of -41.30% [1] - The company posted revenues of $1.66 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.18%, compared to zero revenues a year ago [2] - Alpha Cognition Inc. shares have increased approximately 69.6% since the beginning of the year, significantly outperforming the S&P 500's gain of 10% [3] Group 2 - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend of estimate revisions for Alpha Cognition Inc. was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The current consensus EPS estimate for the upcoming quarter is -$0.48 on revenues of $3.02 million, and for the current fiscal year, it is -$1.42 on revenues of $13.81 million [7] Group 3 - The outlook for the Medical - Biomedical and Genetics industry, to which Alpha Cognition Inc. belongs, is currently in the bottom 41% of over 250 Zacks industries, which may impact the stock's performance [8]

Company Performance - Accuray (ARAY) reported break-even quarterly earnings per share, compared to the Zacks Consensus Estimate of $0.03, and earnings of $0.03 per share a year ago, resulting in an earnings surprise of -100.00% [1] - The company posted revenues of $127.54 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.49%, but down from year-ago revenues of $134.29 million [2] - Over the last four quarters, Accuray has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Stock Performance - Accuray shares have lost about 25.3% since the beginning of the year, while the S&P 500 has gained 9.6% [3] - The current consensus EPS estimate for the coming quarter is -$0.03 on revenues of $103.7 million, and -$0.04 on revenues of $452.65 million for the current fiscal year [7] Industry Outlook - The Zacks Medical - Instruments industry is currently in the bottom 39% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Accuray's stock performance [5]

Group 1: Earnings Performance - Cardinal Health reported quarterly earnings of $2.08 per share, exceeding the Zacks Consensus Estimate of $2.03 per share, and up from $1.84 per share a year ago, representing an earnings surprise of +2.46% [1] - The company posted revenues of $60.16 billion for the quarter ended June 2025, slightly missing the Zacks Consensus Estimate by 0.84%, but up from $59.87 billion year-over-year [2] Group 2: Stock Performance and Outlook - Cardinal shares have increased by approximately 33.3% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.4% [3] - The current consensus EPS estimate for the upcoming quarter is $2.17 on revenues of $57.99 billion, and for the current fiscal year, it is $9.21 on revenues of $248.27 billion [7] Group 3: Industry Context - The Medical - Dental Supplies industry, to which Cardinal belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Pro-Dex, Inc., another company in the same industry, is expected to report quarterly earnings of $0.47 per share, reflecting a year-over-year change of +2.2% [9]

Market Overview - The three major U.S. indexes, Nasdaq Composite, S&P 500, and Dow Jones Industrial Average, experienced declines of 3.24%, 2.3%, and 3.41% respectively in the holiday-shortened trading week, driven by fears of economic slowdown and rising inflation due to trade tensions between the U.S. and China [1] - Consumer sentiment in April dropped to 50.8, the lowest since June 2022, primarily due to inflation concerns [2] - The core Producer Price Index (PPI) rose by 0.3%, indicating persistent price pressures, while the PPI for final demand decreased by 0.4% in March [2] Federal Reserve Insights - Federal Reserve Chair Jerome Powell indicated a need for more clarity before making policy adjustments, suggesting a delay in interest rate cuts, with market expectations leaning towards a rate decrease in December [3] - The ongoing trade war and potential inflation increases are expected to negatively impact job creation and business confidence [3] Zacks Performance and Recommendations - Brookdale Senior Living Inc. (BKD) shares increased by 14.7% since being upgraded to Zacks Rank 2 (Buy) on February 20, contrasting with a 14.2% decrease in the S&P 500 [4] - The Bank of East Asia, Limited (BKEAY) also saw a 3.9% return since its upgrade to Zacks Rank 2 on February 20 [5] - A hypothetical portfolio of Zacks Rank 1 (Strong Buy) stocks returned -3.48% in January 2025, compared to -0.60% for the S&P 500 [5] Zacks Model Portfolio Performance - The Zacks Model Portfolio, consisting of Zacks Rank 1 stocks, has outperformed the S&P 500 index by nearly 13 percentage points since 1988, with an annualized average return of +23.9% compared to +11.3% for the S&P 500 [7] - The Zacks Focus List portfolio returned -2.96% in Q1 2025, outperforming the S&P 500's -4.30% decline [12] - The Earnings Certain Admiral Portfolio (ECAP) returned +3.20% in Q1 2025, significantly better than the S&P 500's -4.30% decline [16] Stock Highlights - Pro-Dex, Inc. (PDEX) shares surged by 68.6% since its Zacks Recommendation upgrade to Outperform on March 4 [8] - Coca-Cola Company (KO) returned 17% over the past 12 weeks, while J. M. Smucker Company (SJM) increased by 12.6% during the same period [18] - Primo Brands Corporation (PRMB) rose by 9% year-to-date, outperforming the S&P 500 index's 10.2% decrease [22]

Core Viewpoint - Pro-Dex, Inc. (PDEX) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Pro-Dex for the fiscal year ending June 2025 is projected at $2.30 per share, reflecting a substantial increase of 283.3% compared to the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for Pro-Dex has risen by 15%, indicating a positive trend in earnings expectations [8]. Zacks Rating System - The Zacks rating system is based solely on a company's earnings picture, tracking changes in earnings estimates from sell-side analysts [2]. - The system classifies stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Pro-Dex to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term [10].