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

Pro-Dex, Inc. (NASDAQ:PDEX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.60 and traded as high as $64.34. Pro-Dex shares last traded at $63.61, with a volume of 81,073 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on PDEX. Wall Street Zen upgraded shares of Pro-Dex from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Zacks Research upgraded Pro-Dex to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings lowered shares of Pro-Dex from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 17th. Finally, Ascendiant Capital Markets boosted their price objective on Pro-Dex from $56.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Pro-Dex Stock Performance

The stock has a market capitalization of $211.50 million, a PE ratio of 18.31 and a beta of 0.02. The stock has a 50 day moving average of $61.43 and a two-hundred day moving average of $52.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.67 and a quick ratio of 2.14.

Insider Buying and Selling

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

Institutional Trading of Pro-Dex

Several large investors have recently bought and sold shares of PDEX. Los Angeles Capital Management LLC acquired a new stake in Pro-Dex in the 4th quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pro-Dex in the 2nd quarter worth approximately $50,000. Bank of America Corp DE increased its stake in 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 valued at $74,000 after purchasing an additional 1,073 shares during the last quarter. Wells Fargo & Company MN increased its stake 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 acquiring an additional 915 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Pro-Dex during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

About Pro-Dex

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.