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

Pro-Dex, Inc. (NASDAQ:PDEX) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 20,000 shares, a drop of 25.1% from the December 15th total of 26,700 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 35,400 shares, the days-to-cover ratio is currently 0.6 days.

Pro-Dex Trading Up 0.7 %

Shares of Pro-Dex stock traded up $0.30 during mid-day trading on Wednesday, hitting $45.30. The stock had a trading volume of 12,904 shares, compared to its average volume of 29,023. The firm has a market cap of $147.63 million, a P/E ratio of 29.42 and a beta of 0.56. The company has a quick ratio of 1.94, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $48.12 and a two-hundred day moving average of $32.49. Pro-Dex has a 12-month low of $16.18 and a 12-month high of $59.60.

Insider Activity at Pro-Dex

In other news, CFO Alisha Charlton sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $40.02, for a total transaction of $40,020.00. Following the sale, the chief financial officer now directly owns 15,339 shares in the company, valued at $613,866.78. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond E. Cabillot sold 1,200 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $47.76, for a total value of $57,312.00. Following the completion of the transaction, the director now directly owns 359,646 shares of the company’s stock, valued at $17,176,692.96. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,703 shares of company stock worth $351,321. 47.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PDEX. Dimensional Fund Advisors LP lifted its stake in shares of Pro-Dex by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock valued at $1,238,000 after purchasing an additional 3,067 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Pro-Dex by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after buying an additional 900 shares during the period. Bard Associates Inc. lifted its position in Pro-Dex by 17.6% in the third quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock valued at $406,000 after buying an additional 2,031 shares during the last quarter. FMR LLC boosted its stake in Pro-Dex by 34.9% during the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after buying an additional 1,028 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Pro-Dex by 9.1% during the third quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after buying an additional 2,296 shares during the period. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PDEX has been the subject of several recent research reports. Ascendiant Capital Markets raised their target price on shares of Pro-Dex from $30.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded Pro-Dex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 14th.

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.