Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Update

Pro-Dex, Inc. (NASDAQ:PDEX) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 45,000 shares, an increase of 166.3% from the February 28th total of 16,900 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 31,600 shares, the short-interest ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Pro-Dex from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Pro-Dex Stock Down 3.5 %

Pro-Dex stock traded down $1.75 during midday trading on Friday, hitting $48.23. 24,983 shares of the stock were exchanged, compared to its average volume of 22,220. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $59.60. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $40.21 and its 200-day moving average price is $39.90. The stock has a market capitalization of $157.28 million, a price-to-earnings ratio of 24.00 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last announced its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.23. Pro-Dex had a return on equity of 21.68% and a net margin of 11.06%. On average, research analysts expect that Pro-Dex will post 2 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pro-Dex news, Director Raymond E. Cabillot sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $47.76, for a total transaction of $57,312.00. Following the completion of the sale, the director now directly owns 359,646 shares of the company’s stock, valued at approximately $17,176,692.96. The trade was a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 47,475 shares of company stock worth $2,186,594. Insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

Several institutional investors have recently added to or reduced their stakes in PDEX. FMR LLC raised its holdings in shares of Pro-Dex by 34.9% in the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after purchasing an additional 1,028 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the fourth quarter valued at approximately $202,000. Trexquant Investment LP purchased a new position in Pro-Dex in the 4th quarter valued at approximately $252,000. Integrated Quantitative Investments LLC bought a new stake in Pro-Dex during the 4th quarter valued at $254,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Pro-Dex during the fourth quarter worth $255,000. Institutional investors own 15.28% of the company’s stock.

Pro-Dex Company Profile

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.