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

Pro-Dex, Inc. (NASDAQ:PDEX)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on PDEX. Zacks Research upgraded shares of Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Ascendiant Capital Markets lifted their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reissued 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Pro-Dex presently has a consensus rating of “Hold” and an average price target of $70.00.

Pro-Dex Stock Performance

The stock has a 50 day moving average of $59.64 and a two-hundred day moving average of $49.08. The stock has a market capitalization of $206.46 million, a PE ratio of 17.88 and a beta of -0.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.58. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.The firm had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. Research analysts expect that Pro-Dex, Inc. will post 3.16 EPS for the current fiscal 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 transaction of $368,820.32. Following the transaction, the chief executive officer directly owned 93,835 shares of the company’s stock, valued at $5,893,776.35. This represents a 5.89% 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 currently owned by company insiders.

Institutional Trading of Pro-Dex

A number of institutional investors have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. grew its position in Pro-Dex by 23.4% during the fourth quarter. Punch & Associates Investment Management Inc. now owns 60,000 shares of the medical instruments supplier’s stock worth $2,309,000 after buying an additional 11,392 shares during the period. Morgan Dempsey Capital Management LLC lifted its position in shares of Pro-Dex by 33.1% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 5,469 shares of the medical instruments supplier’s stock valued at $185,000 after acquiring an additional 1,360 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Pro-Dex during the 4th quarter valued at approximately $220,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Pro-Dex during the 1st quarter worth approximately $170,000. Finally, Royal Bank of Canada boosted its stake in shares of Pro-Dex by 603.4% during the 4th quarter. Royal Bank of Canada now owns 4,080 shares of the medical instruments supplier’s stock worth $157,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other 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.