Pro-Dex (NASDAQ:PDEX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Pro-Dex, Inc. (NASDAQ:PDEX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $50.62 and traded as high as $63.50. Pro-Dex shares last traded at $62.89, with a volume of 234,749 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Finally, Ascendiant Capital Markets raised their price target on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Pro-Dex Stock Performance

The business’s fifty day moving average price is $61.90 and its 200-day moving average price is $50.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14. The stock has a market capitalization of $200.62 million, a PE ratio of 17.37 and a beta of 0.01.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 EPS for the quarter, beating the consensus estimate of $0.62 by $0.58. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. The company had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. As a group, equities research analysts expect that Pro-Dex, Inc. will post 3.16 EPS for the current year.

Insider Buying and Selling at Pro-Dex

In other news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total value of $368,820.32. Following the transaction, the chief executive officer owned 93,835 shares of the company’s stock, valued at approximately $5,893,776.35. This represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Dempsey Capital Management LLC increased its stake in Pro-Dex by 6.2% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after acquiring an additional 339 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Pro-Dex by 65.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock worth $89,000 after purchasing an additional 915 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Pro-Dex in the fourth quarter worth approximately $37,000. Bank of America Corp DE increased its position in shares of Pro-Dex by 173.3% in the second quarter. Bank of America Corp DE now owns 1,692 shares of the medical instruments supplier’s stock worth $74,000 after purchasing an additional 1,073 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pro-Dex in the second quarter valued at approximately $50,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Pro-Dex Company Profile

Pro-Dex, Inc is a designer and manufacturer of precision drive systems and fluid management products serving the dental, medical, industrial and energy markets. The company specializes in high-speed, brushless micromotors and controllers, as well as pneumatic and fluid control devices, providing both standard and custom-engineered solutions for original equipment manufacturers.

Its product portfolio includes high-speed dental handpieces, turbine systems, rotary and reciprocating micro-drives, along with integrated fluid delivery systems.