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

Pro-Dex, Inc. (NASDAQ:PDEX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.89 and traded as high as $64.55. Pro-Dex shares last traded at $61.33, with a volume of 59,911 shares changing hands.

Analysts Set New Price Targets

PDEX has been the subject of several research analyst reports. Wall Street Zen upgraded Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Ascendiant Capital Markets upped their price target 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. Finally, Zacks Research upgraded shares of Pro-Dex to a “hold” rating in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Pro-Dex Trading Down 2.2%

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 firm’s 50 day simple moving average is $60.71 and its two-hundred day simple moving average is $49.89. The stock has a market cap of $195.64 million, a P/E ratio of 16.94 and a beta of 0.01.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $17.90 million. As a group, equities research analysts predict that Pro-Dex, Inc. will post 3.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Pro-Dex

In related news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the 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 sale, the chief executive officer owned 89,707 shares in the company, valued at $5,594,128.52. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 corporate insiders.

Hedge Funds Weigh In On Pro-Dex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in shares of Pro-Dex during the first quarter valued at approximately $170,000. Jane Street Group LLC bought a new stake in shares of Pro-Dex in the 1st quarter worth approximately $321,000. Geode Capital Management LLC boosted its position in Pro-Dex by 93.2% during the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock valued at $2,255,000 after purchasing an additional 24,927 shares during the period. JPMorgan Chase & Co. boosted its position in Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after purchasing an additional 14,479 shares during the period. Finally, New York State Common Retirement Fund bought a new position in Pro-Dex during the 2nd quarter worth $105,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.