Pro-Dex (NASDAQ:PDEX) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Pro-Dex shares have fallen below their 200-day moving average of $46.30, reaching a low of $45.85 during trading.
• Analysts have given the stock an average rating of "Buy" with a consensus target price of $56.00, though Wall Street Zen recently downgraded it to a "hold".
• Institutional investors have been active in acquiring Pro-Dex shares, with several firms purchasing new stakes in the company during the second quarter.

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.30 and traded as low as $45.85. Pro-Dex shares last traded at $46.21, with a volume of 21,680 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PDEX shares. Ascendiant Capital Markets upped their price objective on Pro-Dex from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Wall Street Zen cut Pro-Dex from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Pro-Dex has a consensus rating of "Buy" and an average target price of $56.00.

Pro-Dex Price Performance

The company has a current ratio of 2.73, a quick ratio of 1.45 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $45.87 and a 200 day moving average price of $46.39. The stock has a market cap of $152.83 million, a PE ratio of 16.74 and a beta of 0.19.

Institutional Trading of Pro-Dex

A number of institutional investors have recently added to or reduced their stakes in PDEX. Geode Capital Management LLC lifted its holdings in Pro-Dex by 93.2% during 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. Navellier & Associates Inc. purchased a new stake in Pro-Dex during the 1st quarter worth about $1,094,000. 683 Capital Management LLC purchased a new stake in Pro-Dex during the 4th quarter worth about $739,000. JPMorgan Chase & Co. raised its holdings in shares of Pro-Dex by 67.7% in the 2nd 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, D.A. Davidson & CO. purchased a new stake in shares of Pro-Dex in the 2nd quarter valued at about $451,000. Hedge funds and other institutional investors own 15.28% of the company's stock.

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.