Pro-Dex (NASDAQ:PDEX) Shares Cross Above 200-Day Moving Average – Here’s Why

Pro-Dex, Inc. (NASDAQ:PDEX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $45.52 and traded as high as $68.99. Pro-Dex shares last traded at $66.75, with a volume of 57,942 shares trading hands.

Analysts Set New Price Targets

PDEX has been the topic of several analyst reports. Zacks Research raised shares of Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pro-Dex in a report on Friday, May 1st. Finally, 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. One equities 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 stock currently has a consensus rating of “Hold” and an average price target of $70.00.

Pro-Dex Trading Down 0.3%

The stock has a market cap of $212.93 million, a PE ratio of 18.44 and a beta of -0.02. The business’s fifty day moving average is $54.74 and its 200 day moving average is $45.52. The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32.

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. The firm had revenue of $19.95 million for the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. As a group, analysts predict that Pro-Dex, Inc. will post 3.16 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the business’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 sale, the chief executive officer owned 89,707 shares of the company’s stock, valued at approximately $5,594,128.52. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 45.90% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in Pro-Dex during the fourth quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pro-Dex during the second quarter worth about $50,000. Bank of America Corp DE raised its position in Pro-Dex by 173.3% during 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. AlphaQuest LLC acquired a new position in Pro-Dex during the third quarter worth about $71,000. Finally, Wells Fargo & Company MN raised 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 acquiring an additional 915 shares during the last quarter. Institutional investors and hedge funds 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.