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

Pro-Dex, Inc. (NASDAQ:PDEX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $36.96 and traded as high as $39.99. Pro-Dex shares last traded at $36.07, with a volume of 35,963 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PDEX shares. StockNews.com cut shares of Pro-Dex from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Ascendiant Capital Markets raised their price objective on shares of Pro-Dex from $30.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

Pro-Dex Trading Up 3.9 %

The firm has a market capitalization of $117.62 million, a price-to-earnings ratio of 17.95 and a beta of 0.53. The business’s 50-day simple moving average is $40.99 and its two-hundred day simple moving average is $36.96. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings results 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 net margin of 11.06% and a return on equity of 21.68%. Equities analysts forecast that Pro-Dex, Inc. will post 2 earnings per share for the current year.

Insider Buying and Selling at Pro-Dex

In other news, Director Raymond E. Cabillot sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $47.76, for a total value of $57,312.00. Following the completion of the transaction, the director now owns 359,646 shares of the company’s stock, valued at approximately $17,176,692.96. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 27,770 shares of company stock worth $1,239,312 over the last three months. Insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp purchased a new position in shares of Pro-Dex in the fourth quarter valued at approximately $313,000. Millennium Management LLC purchased a new position in shares of Pro-Dex in the fourth quarter valued at approximately $260,000. 683 Capital Management LLC purchased a new position in shares of Pro-Dex in the fourth quarter valued at approximately $739,000. Northern Trust Corp boosted its stake in shares of Pro-Dex by 14.1% in the fourth quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock valued at $1,672,000 after purchasing an additional 4,426 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Pro-Dex in the fourth quarter valued at approximately $433,000. 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.