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

Pro-Dex, Inc. (NASDAQ:PDEX)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.72 and traded as high as $30.85. Pro-Dex shares last traded at $30.50, with a volume of 8,020 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on PDEX. Ascendiant Capital Markets increased their price target 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 Trading Up 19.1 %

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 2.84. The firm has a market capitalization of $122.75 million, a PE ratio of 20.14 and a beta of 0.39. The company’s 50-day moving average price is $26.98 and its 200-day moving average price is $21.79.

Pro-Dex (NASDAQ:PDEX) last released its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The business had revenue of $15.03 million for the quarter. Pro-Dex had a return on equity of 6.82% and a net margin of 3.95%. On average, sell-side analysts expect that Pro-Dex, Inc. will post 1.42 earnings per share for the current year.

Institutional Trading of Pro-Dex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDEX. Renaissance Technologies LLC grew its position in shares of Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock worth $240,000 after acquiring an additional 900 shares during the last quarter. Perritt Capital Management Inc. raised its holdings in shares of Pro-Dex by 43.3% in the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after buying an additional 1,813 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Pro-Dex by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the period. Institutional investors and hedge funds 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.