Pro-Dex, Inc. (NASDAQ:PDEX) Sees Large Growth in Short Interest

Pro-Dex, Inc. (NASDAQ:PDEX) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 21,600 shares, an increase of 20.7% from the January 31st total of 17,900 shares. Based on an average daily volume of 29,700 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the company’s shares are short sold.

Pro-Dex Stock Down 0.5 %

Pro-Dex stock traded down $0.18 during trading on Friday, hitting $33.87. 35,358 shares of the company were exchanged, compared to its average volume of 27,850. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $40.13 and its 200 day moving average is $37.02. Pro-Dex has a 52 week low of $16.83 and a 52 week high of $59.60. The company has a market capitalization of $110.43 million, a P/E ratio of 16.85 and a beta of 0.53.

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

Analysts Set New Price Targets

PDEX has been the topic of a number of recent research reports. Ascendiant Capital Markets increased their target price on Pro-Dex from $30.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com cut shares of Pro-Dex from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Transactions at Pro-Dex

In related news, Director Raymond E. Cabillot sold 6,931 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $45.22, for a total transaction of $313,419.82. Following the transaction, the director now owns 337,752 shares in the company, valued at $15,273,145.44. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 27,770 shares of company stock worth $1,239,312 over the last three months. 47.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PDEX. OMERS ADMINISTRATION Corp purchased a new position in shares of Pro-Dex during the 4th quarter valued at $313,000. Millennium Management LLC bought a new stake in shares of Pro-Dex in the fourth quarter worth about $260,000. 683 Capital Management LLC bought a new position in Pro-Dex in the fourth quarter worth about $739,000. Northern Trust Corp grew its position in shares of Pro-Dex by 14.1% in the 4th quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock worth $1,672,000 after buying an additional 4,426 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Pro-Dex in the fourth quarter worth $433,000. 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.