Pro-Dex (NASDAQ:PDEX) Share Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Pro-Dex (NASDAQ:PDEX) moved above their 200-day moving average, trading as high as $63.50 and last changing hands at $62.89.
• Analyst sentiment has turned more positive, with multiple firms upgrading the stock and consensus rating sitting at Moderate Buy; the average price target is $70.
• Pro-Dex recently posted strong quarterly results, with EPS of $1.20 versus estimates of $0.62 and revenue of $19.95 million versus $17.90 million expected, while CEO Kirk Richard Lee Van, Jr. also sold shares under a pre-arranged trading plan.

Shares of Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.62 and traded as high as $63.50. Pro-Dex shares last traded at $62.89, with a volume of 234,749 shares trading hands.

Analyst Upgrades and Downgrades

PDEX has been the topic of several analyst reports. Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Zacks Research raised shares of Pro-Dex to a "hold" rating in a research report on Tuesday, May 19th. Weiss Ratings raised shares of Pro-Dex from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Finally, Ascendiant Capital Markets raised their target price on shares of Pro-Dex from $56.00 to $70.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Pro-Dex Stock Up 1.4%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67. The company has a market cap of $200.62 million, a PE ratio of 17.37 and a beta of 0.01. The firm has a fifty day simple moving average of $61.90 and a 200 day simple moving average of $50.62.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last released its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.58. The firm had revenue of $19.95 million during 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%. Equities research analysts predict that Pro-Dex, Inc. will post 3.16 EPS for the current year.

Insider Buying and Selling at Pro-Dex

In related news, CEO Kirk Richard Lee Van, Jr. sold 5,872 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total transaction of $368,820.32. Following the completion of the sale, the chief executive officer owned 93,835 shares of the company's stock, valued at approximately $5,893,776.35. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in shares of Pro-Dex in the 4th quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Pro-Dex during the second quarter worth about $50,000. Bank of America Corp DE boosted its position in shares of 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 buying an additional 1,073 shares during the period. Wells Fargo & Company MN boosted its position in shares of Pro-Dex by 65.4% in the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier's stock worth $89,000 after buying an additional 915 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Pro-Dex in the second quarter valued at about $105,000. 15.28% of the stock is currently owned by hedge funds and other 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.

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