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

Key Points

• Pro-Dex shares crossed above their 200-day moving average of $37.86, trading as high as $49.75 and last at $49.00 on volume of 16,904 shares.
• Q/q results beat expectations: Pro-Dex reported EPS of $0.66 vs. $0.59 expected and revenue of $18.66M vs. $17.30M, and analysts hold a “Moderate Buy” consensus with a $56.00 target.
• The company has a market cap of $157.3M, a PE of 14.4, strong liquidity (current ratio 4.03) and low leverage (debt/equity 0.19), while institutional ownership is modest at 15.28% with several funds recently adding to positions.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.