Pro-Dex (NASDAQ:PDEX) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Pro-Dex shares moved above their 200-day moving average during Tuesday trading, with the stock reaching as high as $56.70 before last trading at $56.01. The move came on volume of 187,569 shares.
• Analyst sentiment is mixed but generally cautious: the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00. Recent actions included a Zacks upgrade to Hold, Ascendiant raising its target to $70 with a Buy rating, and Weiss Ratings downgrading the stock to Hold.
• The company posted strong quarterly results, reporting EPS of $1.20 versus an expected $0.62 and revenue of $19.95 million versus an estimate of $17.90 million. Pro-Dex also has solid balance-sheet metrics, including a quick ratio of 2.14 and current ratio of 3.67.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $51.56 and traded as high as $56.70. Pro-Dex shares last traded at $56.01, with a volume of 187,569 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PDEX shares. Zacks Research raised Pro-Dex to a "hold" rating in a research report on Tuesday, May 19th. Ascendiant Capital Markets upped their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Finally, Weiss Ratings downgraded shares of Pro-Dex from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.00.

Pro-Dex Trading Up 2.5%

The stock has a 50-day moving average price of $62.09 and a two-hundred day moving average price of $51.56. The stock has a market capitalization of $178.67 million, a PE ratio of 15.47 and a beta of 0.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.14 and a current ratio of 3.67.

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, topping the consensus estimate of $0.62 by $0.58. The company had revenue of $19.95 million during the quarter, compared to analyst estimates of $17.90 million. Pro-Dex had a net margin of 16.08% and a return on equity of 22.78%. As a group, equities analysts forecast that Pro-Dex, Inc. will post 3.16 earnings per share 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 company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $62.81, for a total value of $368,820.32. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 45.90% of the company's stock.

Institutional Trading of Pro-Dex

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Pro-Dex by 93.2% in the 2nd quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier's stock worth $2,255,000 after purchasing an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Pro-Dex by 67.7% during the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier's stock valued at $1,566,000 after buying an additional 14,479 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Pro-Dex by 42.1% in the third quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier's stock worth $1,645,000 after buying an additional 14,408 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Pro-Dex in the first quarter worth $532,000. Finally, Jane Street Group LLC bought a new position in shares of Pro-Dex during the first quarter worth $321,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

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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