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

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.60 and traded as high as $64.34. Pro-Dex shares last traded at $63.61, with a volume of 81,073 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen raised Pro-Dex from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Zacks Research raised Pro-Dex to a "hold" rating in a research note on Tuesday, May 19th. Ascendiant Capital Markets raised their price objective on Pro-Dex from $56.00 to $70.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of Pro-Dex from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $70.00.

Pro-Dex Stock Performance

The company has a current ratio of 3.67, a quick ratio of 2.14 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $61.33 and its 200 day simple moving average is $52.60. The company has a market cap of $202.92 million, a price-to-earnings ratio of 17.57 and a beta of 0.02.

Insider Activity

In related news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $62.36, for a total value of $257,422.08. Following the completion of the sale, the chief executive officer owned 89,707 shares of the company's stock, valued at approximately $5,594,128.52. This trade represents a 4.40% decrease in their ownership of the stock. The transaction 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 company insiders.

Institutional Trading of Pro-Dex

Several large investors have recently added to or reduced their stakes in PDEX. Los Angeles Capital Management LLC acquired a new stake in shares of Pro-Dex in the 4th quarter worth $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Pro-Dex during the second quarter worth about $50,000. Bank of America Corp DE increased its position in Pro-Dex by 173.3% during the second 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 during the last quarter. Wells Fargo & Company MN raised its stake in Pro-Dex by 65.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier's stock worth $89,000 after purchasing an additional 915 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in Pro-Dex during the second quarter worth about $105,000. 15.28% of the stock is currently owned by hedge funds and other 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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