Pro-Dex (NASDAQ:PDEX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Pro-Dex, Inc. (NASDAQ:PDEX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $37.86 and traded as high as $49.75. Pro-Dex shares last traded at $49.00, with a volume of 16,904 shares traded.

Analyst Ratings Changes

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

Pro-Dex Stock Performance

The firm has a market cap of $157.29 million, a PE ratio of 14.41 and a beta of -0.04. 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 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $37.86.

Pro-Dex (NASDAQ:PDEX) last announced its 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 analyst estimates of $17.30 million. Pro-Dex had a return on equity of 22.53% and a net margin of 15.73%. As a group, equities research analysts forecast that Pro-Dex, Inc. will post 2 earnings per share for the current year.

Institutional Trading of Pro-Dex

Several hedge funds have recently added to or reduced their stakes in PDEX. Geode Capital Management LLC lifted its position in shares of Pro-Dex by 93.2% during the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier’s stock worth $2,255,000 after acquiring an additional 24,927 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Pro-Dex by 152.3% in the third 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of Pro-Dex by 67.7% in the second 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 in the last quarter. Punch & Associates Investment Management Inc. raised its stake in shares of Pro-Dex by 42.1% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after purchasing an additional 14,408 shares during the period. Finally, CreativeOne Wealth LLC bought a new stake in shares of Pro-Dex during the 2nd quarter valued at $297,000. Institutional investors own 15.28% of the company’s stock.

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.