Pro-Dex (NASDAQ:PDEX) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Pro-Dex, Inc. (NASDAQ:PDEX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.62 and traded as high as $47.81. Pro-Dex shares last traded at $47.51, with a volume of 26,369 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Pro-Dex in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Pro-Dex currently has an average rating of “Moderate Buy” and an average price target of $56.00.

Pro-Dex Stock Up 3.0%

The company has a quick ratio of 2.25, a current ratio of 4.03 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $152.51 million, a price-to-earnings ratio of 13.97 and a beta of -0.04. The stock has a 50 day moving average price of $40.50 and a 200 day moving average price of $37.62.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings results on Thursday, January 29th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $18.66 million during the quarter, compared to the consensus estimate of $17.30 million. Pro-Dex had a net margin of 15.73% and a return on equity of 22.53%. As a group, analysts forecast that Pro-Dex, Inc. will post 2 EPS for the current year.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in shares of Pro-Dex by 152.3% in the 3rd quarter. D.A. Davidson & CO. now owns 26,073 shares of the medical instruments supplier’s stock valued at $883,000 after purchasing an additional 15,738 shares during the period. CreativeOne Wealth LLC acquired a new stake in Pro-Dex in the 2nd quarter valued at $297,000. Hillsdale Investment Management Inc. bought a new stake in shares of Pro-Dex during the second quarter worth about $157,000. LPL Financial LLC bought a new stake in Pro-Dex during the 4th quarter worth approximately $228,000. Finally, First Trust Advisors LP bought a new stake in Pro-Dex during the fourth quarter worth $222,000. 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.