Pro-Dex (NASDAQ:PDEX) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Pro-Dex, Inc. (NASDAQ:PDEX) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $61.25 and traded as low as $59.15. Pro-Dex shares last traded at $60.02, with a volume of 31,867 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Pro-Dex from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Ascendiant Capital Markets raised their target price on shares of Pro-Dex from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Finally, Zacks Research raised shares of Pro-Dex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $74.00.

Pro-Dex Stock Down 2.9%

The company has a market cap of $188.18 million, a P/E ratio of 14.11 and a beta of 0.04. The company has a quick ratio of 2.45, a current ratio of 4.10 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $66.13 and a 200 day moving average of $61.23.

Pro-Dex (NASDAQ:PDEX) last posted its earnings results on Thursday, September 3rd. The medical instruments supplier reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.20. Pro-Dex had a return on equity of 25.13% and a net margin of 17.62%. The company had revenue of $20.41 million for the quarter, compared to the consensus estimate of $19.20 million. On average, research analysts anticipate that Pro-Dex, Inc. will post 3.09 earnings per share for the current fiscal year.

Insider Transactions at Pro-Dex

In other Pro-Dex news, CEO Kirk Richard Lee Van, Jr. sold 765 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $59.36, for a total transaction of $45,410.40. Following the completion of the sale, the chief executive officer directly owned 79,228 shares in the company, valued at $4,702,974.08. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alisha Charlton sold 2,300 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $61.30, for a total transaction of $140,990.00. Following the sale, the chief financial officer directly owned 21,870 shares of the company’s stock, valued at $1,340,631. The trade was a 9.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 22,300 shares of company stock valued at $1,351,657. Corporate insiders own 48.00% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in Pro-Dex during the second quarter valued at approximately $678,000. Ellsworth Advisors LLC bought a new position in Pro-Dex in the third quarter worth approximately $1,166,000. Corsair Capital Management L.P. bought a new position in Pro-Dex in the first quarter worth approximately $532,000. Focus Financial Network Inc. bought a new position in Pro-Dex in the third quarter worth approximately $207,000. Finally, Navellier & Associates Inc. bought a new position in Pro-Dex in the second quarter worth approximately $322,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Pro-Dex

Pro-Dex, Inc is a medical device company that designs, develops and manufactures powered surgical instruments and related equipment. Its products are primarily used in orthopedic, dental and other surgical procedures, where precision, reliability and controlled power are important.

The company supplies instruments and components to original equipment manufacturers and other medical device customers. Its capabilities include product design and development, engineering, manufacturing, assembly and related support services.