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

Pro-Dex, Inc. (NASDAQ:PDEX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $35.47 and traded as high as $35.53. Pro-Dex shares last traded at $34.56, with a volume of 6,214 shares changing hands.

Wall Street Analyst Weigh In

PDEX has been the topic of several research analyst reports. Ascendiant Capital Markets lifted their price target on shares of Pro-Dex from $30.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com downgraded Pro-Dex from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd.

Pro-Dex Stock Performance

The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $44.40 and a 200-day moving average price of $35.47. The firm has a market cap of $115.47 million, a price-to-earnings ratio of 17.62 and a beta of 0.53.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. On average, analysts expect that Pro-Dex, Inc. will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pro-Dex news, Director Raymond E. Cabillot sold 5,381 shares of Pro-Dex stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $41.64, for a total transaction of $224,064.84. Following the completion of the transaction, the director now owns 319,752 shares in the company, valued at approximately $13,314,473.28. The trade was a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 27,770 shares of company stock worth $1,239,312. 47.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pro-Dex

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Pro-Dex by 34.9% during the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock valued at $119,000 after buying an additional 1,028 shares during the period. Bank of New York Mellon Corp acquired a new position in Pro-Dex in the fourth quarter valued at $202,000. Trexquant Investment LP purchased a new position in Pro-Dex during the fourth quarter worth about $252,000. Integrated Quantitative Investments LLC purchased a new stake in Pro-Dex in the 4th quarter valued at about $254,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Pro-Dex during the 4th quarter valued at about $255,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.