Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Up 166.3% in March

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 45,000 shares, a growth of 166.3% from the February 28th total of 16,900 shares. Based on an average daily trading volume, of 31,600 shares, the short-interest ratio is presently 1.4 days. Currently, 2.2% of the shares of the company are sold short.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 1,200 shares of the stock in a transaction 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 sale, the director now owns 359,646 shares in the company, valued at $17,176,692.96. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 47,475 shares of company stock worth $2,186,594. Corporate insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Pro-Dex by 34.9% in the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after acquiring an additional 1,028 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Pro-Dex during the fourth quarter worth about $202,000. Trexquant Investment LP purchased a new position in shares of Pro-Dex in the 4th quarter worth about $252,000. Integrated Quantitative Investments LLC bought a new stake in Pro-Dex in the 4th quarter worth approximately $254,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Pro-Dex in the 4th quarter worth approximately $255,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Pro-Dex Price Performance

NASDAQ:PDEX traded down $1.75 during mid-day trading on Friday, hitting $48.23. 24,983 shares of the stock traded hands, compared to its average volume of 22,220. The business’s 50-day moving average price is $40.13 and its 200 day moving average price is $39.75. 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 company has a market cap of $157.28 million, a PE ratio of 24.00 and a beta of 0.68. Pro-Dex has a 12-month low of $16.84 and a 12-month high of $59.60.

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

Analyst Upgrades and Downgrades

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

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.