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

Key Points

• Pro-Dex's stock price surpassed its 200-day moving average of $45.79, reaching a high of $48.64 during trading, before closing at $45.71.
• Analyst ratings for Pro-Dex have improved, with Ascendiant Capital Markets raising its price target from $54.00 to $56.00 and upgrading the stock to a "buy" rating.
• Institutional investors have increased their stakes in Pro-Dex, with notable increases from Acadian Asset Management and Northern Trust Corp, reflecting growing confidence in the company.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.79 and traded as high as $48.64. Pro-Dex shares last traded at $45.71, with a volume of 57,239 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Ascendiant Capital Markets upped their target price 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.

Pro-Dex Trading Up 2.6%

The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 1.45. The business's 50 day moving average price is $45.15 and its 200-day moving average price is $45.84. The firm has a market capitalization of $155.67 million, a price-to-earnings ratio of 17.05 and a beta of 0.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in Pro-Dex in the second quarter valued at about $28,000. Cubist Systematic Strategies LLC purchased a new position in Pro-Dex in the first quarter valued at about $170,000. Morgan Dempsey Capital Management LLC purchased a new position in Pro-Dex in the second quarter valued at about $179,000. Trexquant Investment LP purchased a new position in Pro-Dex in the fourth quarter valued at about $252,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Pro-Dex in the fourth quarter valued at about $255,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

About Pro-Dex

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.