Pro-Dex (NASDAQ:PDEX) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Pro-Dex, Inc. (NASDAQ:PDEX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.89 and traded as high as $64.55. Pro-Dex shares last traded at $61.33, with a volume of 59,911 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Pro-Dex from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Ascendiant Capital Markets lifted their price target on shares of Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Pro-Dex to a “hold” rating in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.00.

Pro-Dex Stock Performance

The stock has a fifty day simple moving average of $60.92 and a 200 day simple moving average of $49.97. The firm has a market capitalization of $195.64 million, a P/E ratio of 16.94 and a beta of 0.01. The company has a quick ratio of 2.14, a current ratio of 3.67 and a debt-to-equity ratio of 0.32.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, April 30th. The medical instruments supplier reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.58. Pro-Dex had a return on equity of 22.78% and a net margin of 16.08%.The firm had revenue of $19.95 million during the quarter, compared to analysts’ expectations of $17.90 million. As a group, research analysts forecast that Pro-Dex, Inc. will post 3.16 EPS for the current year.

Insider Transactions at Pro-Dex

In other news, CEO Kirk Richard Lee Van, Jr. sold 4,128 shares of Pro-Dex stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $62.36, for a total transaction of $257,422.08. Following the sale, the chief executive officer owned 89,707 shares in the company, valued at $5,594,128.52. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 45.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently bought and sold shares of the stock. Morgan Dempsey Capital Management LLC lifted its stake in Pro-Dex by 6.2% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 5,808 shares of the medical instruments supplier’s stock worth $286,000 after purchasing an additional 339 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Pro-Dex by 65.4% during the 4th quarter. Wells Fargo & Company MN now owns 2,314 shares of the medical instruments supplier’s stock valued at $89,000 after purchasing an additional 915 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Pro-Dex during the 4th quarter valued at about $37,000. Bank of America Corp DE increased its holdings in shares of 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 worth $74,000 after purchasing an additional 1,073 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pro-Dex in the second quarter worth about $50,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.