Pro-Dex (NASDAQ:PDEX) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Pro-Dex, Inc. (NASDAQ:PDEX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.08 and traded as high as $67.00. Pro-Dex shares last traded at $64.72, with a volume of 110,532 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Pro-Dex in a research note on Friday, May 1st. Zacks Research raised Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Ascendiant Capital Markets increased their target price on Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Pro-Dex presently has an average rating of “Hold” and a consensus target price of $70.00.

Pro-Dex Stock Performance

The stock’s fifty day simple moving average is $60.09 and its two-hundred day simple moving average is $49.34. The company has a market cap of $196.09 million, a price-to-earnings ratio of 16.98 and a beta of -0.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

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

Insider Buying and Selling

In other news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $62.36, for a total value of $257,422.08. Following the transaction, the chief executive officer directly owned 89,707 shares in the company, valued at $5,594,128.52. This trade represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by corporate insiders.

Institutional Trading of Pro-Dex

A number of institutional investors and hedge funds have recently bought and sold shares of PDEX. Punch & Associates Investment Management Inc. raised its holdings in Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock valued at $3,032,000 after buying an additional 1,735 shares during the period. Geode Capital Management LLC increased its position in shares of Pro-Dex by 93.2% in the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pro-Dex by 67.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after acquiring an additional 14,479 shares during the period. Osaic Holdings Inc. raised its stake in shares of Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock valued at $440,000 after acquiring an additional 3,540 shares during the period. Finally, Corsair Capital Management L.P. acquired a new position in shares of Pro-Dex during the 1st quarter valued at $532,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.