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

Key Points

• Price breakout: Pro‑Dex shares passed above their 200‑day moving average, trading as high as $58.64 and last at $57.42 versus the 200‑day average of $41.80 on volume of 27,079 shares.
• Earnings beat: The company reported Q1 EPS of $1.20 (vs. $0.62 expected) and revenue of $19.95M (vs. $17.90M), with a 16.08% net margin and 22.78% return on equity.
• Mixed sentiment and institutional buying: MarketBeat shows an average "Moderate Buy" rating with a $56 target while Weiss Ratings rates it a "hold (c+)," and several hedge funds recently initiated or increased positions; market cap about $183M and PE ~15.9.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $41.80 and traded as high as $58.64. Pro-Dex shares last traded at $57.42, with a volume of 27,079 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Pro-Dex in a report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Pro-Dex has an average rating of "Moderate Buy" and an average price target of $56.00.

Pro-Dex Stock Performance

The firm has a market cap of $183.17 million, a PE ratio of 15.86 and a beta of -0.12. The firm has a 50-day moving average price of $49.64 and a two-hundred day moving average price of $41.80. The company has a quick ratio of 2.25, a current ratio of 3.67 and a debt-to-equity ratio of 0.32.

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 for the quarter, beating the consensus estimate of $0.62 by $0.58. The business had revenue of $19.95 million for the quarter, compared to the consensus estimate of $17.90 million. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently made changes to their positions in PDEX. Cubist Systematic Strategies LLC purchased a new position in shares of Pro-Dex in the first quarter valued at approximately $170,000. Jane Street Group LLC purchased a new position in shares of Pro-Dex in the first quarter valued at approximately $321,000. Geode Capital Management LLC lifted its position in shares of Pro-Dex by 93.2% in the second quarter. Geode Capital Management LLC now owns 51,668 shares of the medical instruments supplier's stock valued at $2,255,000 after acquiring an additional 24,927 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Pro-Dex by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier's stock valued at $1,566,000 after acquiring an additional 14,479 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Pro-Dex in the second quarter valued at approximately $105,000. 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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