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

Pro-Dex, Inc. (NASDAQ:PDEX)’s share price crossed 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.

Analyst Ratings Changes

PDEX has been the subject of a number of analyst reports. Ascendiant Capital Markets upped their price objective on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com cut shares of Pro-Dex from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd.

Pro-Dex Price Performance

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

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, topping 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, sell-side analysts forecast that Pro-Dex, Inc. will post 2 EPS for the current fiscal year.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 835 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $42.00, for a total value of $35,070.00. Following the sale, the director now owns 334,646 shares in the company, valued at approximately $14,055,132. This trade represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 27,770 shares of company stock worth $1,239,312 in the last ninety days. 47.50% of the stock is owned by insiders.

Institutional Trading of Pro-Dex

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Pro-Dex by 14.1% during the 4th quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock worth $1,672,000 after acquiring an additional 4,426 shares during the period. Geode Capital Management LLC raised its position in shares of Pro-Dex by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after buying an additional 2,296 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Pro-Dex by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock worth $740,000 after acquiring an additional 529 shares during the period. EAM Investors LLC bought a new position in shares of Pro-Dex in the fourth quarter valued at approximately $1,047,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Pro-Dex during the fourth quarter valued at approximately $995,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.