Pro-Dex (NASDAQ:PDEX) Stock Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Pro-Dex (NASDAQ:PDEX) shares fell below their 200-day moving average of $46.88, trading at $33.91, indicating a potential bearish trend.
• The company reported a missed earnings estimate for the last quarter, with earnings per share at $0.36 compared to the expected $0.47.
• Recent changes in institutional holdings show that 15.28% of Pro-Dex's stock is owned by institutional investors, with significant activity including new stakes acquired by several hedge funds.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.88 and traded as low as $33.90. Pro-Dex shares last traded at $33.91, with a volume of 22,600 shares.

Wall Street Analyst Weigh In

PDEX has been the subject of several research reports. Wall Street Zen lowered shares of Pro-Dex from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Ascendiant Capital Markets lifted their price target on shares of Pro-Dex from $54.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Pro-Dex currently has an average rating of "Buy" and an average price target of $56.00.

Pro-Dex Trading Down 1.3%

The business's 50 day moving average price is $43.33 and its two-hundred day moving average price is $46.88. The company has a market capitalization of $110.55 million, a price-to-earnings ratio of 12.56 and a beta of -0.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.71 and a current ratio of 3.23.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The medical instruments supplier reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.11). The company had revenue of $17.49 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a return on equity of 26.67% and a net margin of 13.48%. Equities analysts forecast that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Institutional Trading of Pro-Dex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Pro-Dex in the 2nd quarter worth approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pro-Dex in the 2nd quarter worth approximately $50,000. Bank of America Corp DE raised its holdings in shares of Pro-Dex by 173.3% in the 2nd 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 in the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Pro-Dex during the second quarter valued at approximately $105,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Pro-Dex during the first quarter valued at approximately $170,000. 15.28% of the stock is currently owned by institutional investors.

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.

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