Pro-Dex (NASDAQ:PDEX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Pro-Dex, Inc. (NASDAQ:PDEX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $47.21 and traded as high as $66.20. Pro-Dex shares last traded at $61.98, with a volume of 61,296 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PDEX. Zacks Research raised shares of Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Ascendiant Capital Markets boosted their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.00.

Pro-Dex Price Performance

The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $57.09 and its 200 day moving average is $47.21. The firm has a market capitalization of $197.72 million, a price-to-earnings ratio of 17.12 and a beta of -0.02.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results 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 business had revenue of $19.95 million for the quarter, compared to the consensus estimate of $17.90 million. On average, equities research analysts anticipate that Pro-Dex, Inc. will post 3.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Pro-Dex

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC lifted its position in Pro-Dex by 6.2% during the first quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 339 shares during the period. Wells Fargo & Company MN lifted its position in 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 during the period. Los Angeles Capital Management LLC bought a new position in shares of Pro-Dex in the fourth quarter worth about $37,000. Bank of America Corp DE lifted its holdings 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 acquiring an additional 1,073 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Pro-Dex in the second quarter worth about $50,000. Institutional investors own 15.28% of the company’s stock.

About Pro-Dex

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.