Pro-Dex (NASDAQ:PDEX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Pro-Dex, Inc. (NASDAQ:PDEX) passed 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 traded.

Wall Street Analysts Forecast Growth

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

Pro-Dex Trading Up 2.6%

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 market capitalization of $126.63 million, a price-to-earnings ratio of 11.60 and a beta of -0.05. The company’s 50 day simple moving average is $40.60 and its two-hundred day simple moving average is $38.39.

Pro-Dex (NASDAQ:PDEX) last posted 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 net margin of 15.73% and a return on equity of 22.53%. The firm had revenue of $18.66 million for the quarter, compared to the consensus estimate of $17.30 million. As a group, research analysts anticipate that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pro-Dex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in Pro-Dex in the second quarter valued at approximately $28,000. Bank of America Corp DE boosted its stake 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 valued at $74,000 after acquiring an additional 1,073 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Pro-Dex during the second quarter worth about $50,000. Osaic Holdings Inc. lifted its holdings in shares of Pro-Dex by 23.6% in the 2nd quarter. Osaic Holdings Inc. now owns 7,120 shares of the medical instruments supplier’s stock valued at $311,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC grew its stake in Pro-Dex by 33.1% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 5,469 shares of the medical instruments supplier’s stock worth $185,000 after buying an additional 1,360 shares during the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

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.