Pro-Dex (NASDAQ:PDEX) Shares Pass Above 200 Day Moving Average – Should You Sell?

Pro-Dex, Inc. (NASDAQ:PDEX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.08 and traded as high as $31.95. Pro-Dex shares last traded at $31.34, with a volume of 42,466 shares.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PDEX. Ascendiant Capital Markets raised their target price on shares of Pro-Dex from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 9th. StockNews.com raised shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 7th.

Pro-Dex Stock Down 0.1 %

The stock has a market cap of $103.29 million, a P/E ratio of 53.00 and a beta of 0.38. The firm has a 50 day simple moving average of $23.24 and a 200-day simple moving average of $20.23. The company has a quick ratio of 1.66, a current ratio of 2.84 and a debt-to-equity ratio of 0.24.

Pro-Dex (NASDAQ:PDEX) last posted its quarterly earnings results on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. Pro-Dex had a return on equity of 6.82% and a net margin of 3.95%. The business had revenue of $15.03 million for the quarter.

Institutional Investors Weigh In On Pro-Dex

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Pro-Dex by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after acquiring an additional 3,067 shares in the last quarter. Perritt Capital Management Inc. boosted its holdings in Pro-Dex by 43.3% in the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,813 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Pro-Dex by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.

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.