Pro-Dex (NASDAQ:PDEX) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Pro-Dex, Inc. (NASDAQ:PDEX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $38.44 and traded as high as $39.38. Pro-Dex shares last traded at $38.45, with a volume of 21,858 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Pro-Dex in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.00.

Pro-Dex Stock Performance

The stock has a market cap of $126.63 million, a price-to-earnings ratio of 11.60 and a beta of -0.05. The company has a quick ratio of 2.25, a current ratio of 4.03 and a debt-to-equity ratio of 0.19. The company has a 50 day simple moving average of $40.60 and a 200 day simple moving average of $38.39.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, January 29th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Pro-Dex had a return on equity of 22.53% and a net margin of 15.73%.The company had revenue of $18.66 million during the quarter, compared to the consensus estimate of $17.30 million. As a group, equities research analysts forecast that Pro-Dex, Inc. will post 2 EPS for the current year.

Institutional Investors Weigh In On Pro-Dex

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in 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 buying an additional 24,927 shares during the period. Punch & Associates Investment Management Inc. increased its position in Pro-Dex by 42.1% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 48,608 shares of the medical instruments supplier’s stock valued at $1,645,000 after buying an additional 14,408 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Pro-Dex by 67.7% in the second quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock worth $1,566,000 after acquiring an additional 14,479 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Pro-Dex by 152.3% during the third quarter. D.A. Davidson & CO. now owns 26,073 shares of the medical instruments supplier’s stock valued at $883,000 after acquiring an additional 15,738 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Pro-Dex by 32.4% in the 2nd quarter. Ritholtz Wealth Management now owns 21,102 shares of the medical instruments supplier’s stock worth $921,000 after purchasing an additional 5,158 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.