Pro-Dex (NASDAQ:PDEX) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Pro-Dex, Inc. (NASDAQ:PDEX) shares recently crossed above their 200-day moving average of $45.68, trading as high as $50.41 before settling at $49.43.
• Research firms have upgraded the stock's rating to "buy," with Ascendiant Capital Markets raising its target price from $54.00 to $56.00.
• For the latest quarter, Pro-Dex reported $0.98 earnings per share, significantly exceeding the consensus estimate of $0.47, despite revenue slightly missing predictions.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $45.68 and traded as high as $50.41. Pro-Dex shares last traded at $49.43, with a volume of 17,780 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PDEX shares. Wall Street Zen upgraded shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Ascendiant Capital Markets boosted their price target on shares of Pro-Dex from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th.

Pro-Dex Stock Performance

The stock's fifty day simple moving average is $44.38 and its 200-day simple moving average is $45.67. The company has a quick ratio of 1.45, a current ratio of 2.73 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $175.28 million, a PE ratio of 19.17 and a beta of 0.19.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.98 EPS for the quarter, topping the consensus estimate of $0.47 by $0.51. The business had revenue of $17.41 million for the quarter, compared to analyst estimates of $17.70 million. Pro-Dex had a return on equity of 29.08% and a net margin of 14.61%. On average, research analysts predict that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pro-Dex

Several institutional investors have recently modified their holdings of the company. American Century Companies Inc. boosted its stake in shares of Pro-Dex by 3.0% during the 1st quarter. American Century Companies Inc. now owns 12,301 shares of the medical instruments supplier's stock worth $610,000 after acquiring an additional 355 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Pro-Dex by 8.1% in the fourth quarter. Renaissance Technologies LLC now owns 14,740 shares of the medical instruments supplier's stock valued at $689,000 after purchasing an additional 1,100 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Pro-Dex by 48.5% in the first quarter. Bank of New York Mellon Corp now owns 6,415 shares of the medical instruments supplier's stock valued at $318,000 after purchasing an additional 2,096 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Pro-Dex by 5.2% in the first quarter. Acadian Asset Management LLC now owns 59,276 shares of the medical instruments supplier's stock valued at $2,937,000 after purchasing an additional 2,931 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Pro-Dex in the first quarter valued at approximately $170,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.