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

Pro-Dex, Inc. (NASDAQ:PDEX) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $53.65 and traded as high as $67.76. Pro-Dex shares last traded at $66.72, with a volume of 97,231 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PDEX. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Zacks Research upgraded shares of Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Ascendiant Capital Markets raised their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Pro-Dex Trading Up 0.7%

The business’s 50 day moving average is $61.43 and its two-hundred day moving average is $53.84. The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $216.60 million, a P/E ratio of 18.76 and a beta of 0.02.

Insider Activity at Pro-Dex

In other news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total value of $257,422.08. Following the completion of the sale, the chief executive officer directly owned 89,707 shares of the company’s stock, valued at approximately $5,594,128.52. This represents a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. lifted its position in Pro-Dex by 2.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 61,735 shares of the medical instruments supplier’s stock worth $3,032,000 after purchasing an additional 1,735 shares during the period. Geode Capital Management LLC increased its position in shares of 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 valued at $2,255,000 after purchasing an additional 24,927 shares during the period. JPMorgan Chase & Co. increased its position in shares of Pro-Dex by 67.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 35,877 shares of the medical instruments supplier’s stock valued at $1,566,000 after purchasing an additional 14,479 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the 2nd quarter worth $678,000. Finally, Osaic Holdings Inc. raised its stake in shares of Pro-Dex by 44.8% in the 4th quarter. Osaic Holdings Inc. now owns 11,434 shares of the medical instruments supplier’s stock worth $440,000 after buying an additional 3,540 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.