Pro-Dex (NASDAQ:PDEX) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Pro-Dex shares crossed above their 200-day moving average, reaching $67.76 and closing near $66.72 versus the $53.65 long-term average.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $70 target price, including Ascendiant Capital Markets’ increase of its target to $70.
• CEO Kirk Richard Lee Van sold 4,128 shares worth approximately $257,000 under a pre-arranged Rule 10b5-1 plan; insiders still own 45.9% of the company, while institutions own 15.28%.

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 $53.65 and traded as high as $67.76. Pro-Dex shares last traded at $66.72, with a volume of 97,231 shares trading hands.

Analyst Ratings Changes

Several analysts recently weighed in on PDEX shares. Ascendiant Capital Markets lifted their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of Pro-Dex to a "hold" rating in a 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 report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

Pro-Dex Trading Up 0.7%

The stock's fifty day moving average price is $61.39 and its 200 day moving average price is $53.65. The stock has a market cap of $212.84 million, a P/E ratio of 18.43 and a beta of 0.02. The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $62.36, for a total value of $257,422.08. Following the sale, the chief executive officer owned 89,707 shares in the company, valued at approximately $5,594,128.52. This represents a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is owned by insiders.

Institutional Trading of Pro-Dex

A number of hedge funds have recently made changes to their positions in PDEX. Los Angeles Capital Management LLC purchased a new stake in shares of Pro-Dex in the 4th quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Pro-Dex in the second quarter worth $50,000. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 1,073 shares in the last quarter. Wells Fargo & Company MN grew its stake 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 acquiring an additional 915 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of Pro-Dex in the second quarter worth $105,000. 15.28% of the stock is owned by institutional investors.

Pro-Dex Company Profile

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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