Pro-Dex, Inc. (NASDAQ:PDEX – Get Free Report)’s stock price passed 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 changing hands.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PDEX. Ascendiant Capital Markets lifted their price target on shares of Pro-Dex from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 9th. StockNews.com raised shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 7th.
Check Out Our Latest Analysis on Pro-Dex
Pro-Dex Price Performance
Pro-Dex (NASDAQ:PDEX – Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.11. Pro-Dex had a net margin of 3.95% and a return on equity of 6.82%. The business had revenue of $15.03 million for the quarter. Sell-side analysts predict that Pro-Dex, Inc. will post 1.42 EPS for the current fiscal year.
Hedge Funds Weigh In On Pro-Dex
A number of hedge funds have recently made changes to their positions in the stock. Perritt Capital Management Inc. raised its position in shares of 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 worth $106,000 after buying an additional 1,813 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Pro-Dex by 7.9% in 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after purchasing 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.
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