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

Pro-Dex, Inc. (NASDAQ:PDEX) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $37.70 and traded as high as $47.60. Pro-Dex shares last traded at $45.67, with a volume of 58,396 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pro-Dex in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Pro-Dex Trading Up 2.1%

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 company has a market capitalization of $146.60 million, a P/E ratio of 13.43 and a beta of -0.04. The firm’s 50-day moving average price is $41.29 and its 200 day moving average price is $37.70.

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

Hedge Funds Weigh In On Pro-Dex

Large investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in Pro-Dex during the second quarter worth about $28,000. Los Angeles Capital Management LLC bought a new position in shares of Pro-Dex in the fourth quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pro-Dex during the second quarter valued at approximately $50,000. AlphaQuest LLC bought a new stake in Pro-Dex during the third quarter worth $71,000. Finally, Bank of America Corp DE boosted its position in 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 purchasing an additional 1,073 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors.

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.