Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Up 38.2% in March

Pro-Dex, Inc. (NASDAQ:PDEX) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 62,200 shares, an increase of 38.2% from the March 15th total of 45,000 shares. Based on an average daily volume of 35,700 shares, the short-interest ratio is presently 1.7 days. Currently, 3.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Pro-Dex Trading Down 0.8 %

Shares of PDEX stock opened at $60.83 on Friday. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $65.87. The business’s fifty day moving average is $46.39 and its 200 day moving average is $43.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. The company has a market capitalization of $198.37 million, a PE ratio of 30.26 and a beta of 0.40.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that Pro-Dex will post 2 EPS for the current fiscal year.

Insider Activity

In other Pro-Dex news, Director Raymond E. Cabillot sold 835 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $42.00, for a total transaction of $35,070.00. Following the sale, the director now owns 334,646 shares of the company’s stock, valued at $14,055,132. The trade was a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 35,630 shares of company stock valued at $1,653,248 over the last quarter. Company insiders own 47.50% of the company’s stock.

Hedge Funds Weigh In On Pro-Dex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its position in shares of Pro-Dex by 14.1% during the 4th quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock valued at $1,672,000 after buying an additional 4,426 shares in the last quarter. Geode Capital Management LLC increased its stake in Pro-Dex by 9.1% in the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock valued at $819,000 after acquiring an additional 2,296 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after acquiring an additional 529 shares during the last quarter. EAM Investors LLC purchased a new stake in Pro-Dex during the fourth quarter valued at about $1,047,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Pro-Dex during the fourth quarter worth about $995,000. Hedge funds and other 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.