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

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 62,200 shares, a growth of 38.2% from the March 15th total of 45,000 shares. Based on an average trading volume of 35,700 shares, the short-interest ratio is presently 1.7 days. Approximately 3.0% of the shares of the stock are sold short.

Insider Buying and Selling

In other Pro-Dex news, Director Raymond E. Cabillot sold 835 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $42.00, for a total value of $35,070.00. Following the completion of the transaction, the director now directly owns 334,646 shares in the company, valued at approximately $14,055,132. This represents a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 35,630 shares of company stock worth $1,653,248 in the last 90 days. Insiders own 47.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PDEX. EAM Investors LLC acquired a new stake in Pro-Dex during the fourth quarter worth approximately $1,047,000. O Shaughnessy Asset Management LLC bought a new stake in Pro-Dex in the fourth quarter valued at $995,000. 683 Capital Management LLC acquired a new position in Pro-Dex during the 4th quarter worth approximately $739,000. Ritholtz Wealth Management bought a new position in shares of Pro-Dex in the 4th quarter worth $572,000. Finally, American Century Companies Inc. acquired a new stake in shares of Pro-Dex in the 4th quarter worth about $558,000. 15.28% of the stock is owned by institutional investors.

Pro-Dex Stock Performance

NASDAQ:PDEX opened at $60.83 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex has a fifty-two week low of $16.84 and a fifty-two week high of $65.87. The company has a 50 day simple moving average of $46.39 and a two-hundred day simple moving average of $43.37. 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 posted its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, topping 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%. Research analysts anticipate that Pro-Dex will post 2 earnings per share for the current year.

Analyst Ratings Changes

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

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.