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

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 45,000 shares, an increase of 166.3% from the February 28th total of 16,900 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 31,600 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

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

Pro-Dex Price Performance

NASDAQ:PDEX opened at $49.41 on Thursday. Pro-Dex has a one year low of $16.84 and a one year high of $59.60. 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 firm has a market cap of $161.13 million, a price-to-earnings ratio of 24.58 and a beta of 0.68. The firm’s fifty day moving average is $40.02 and its two-hundred day moving average is $39.68.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, topping 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%. Research analysts expect that Pro-Dex will post 2 EPS for the current year.

Insider Buying and Selling at Pro-Dex

In other news, Director Raymond E. Cabillot sold 1,200 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $47.76, for a total transaction of $57,312.00. Following the transaction, 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 through this hyperlink. Over the last ninety days, insiders sold 44,379 shares of company stock valued at $2,031,392. 47.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pro-Dex

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of Pro-Dex by 34.9% in the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock valued at $119,000 after purchasing an additional 1,028 shares during the period. Geode Capital Management LLC lifted its stake in Pro-Dex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier’s stock worth $819,000 after purchasing an additional 2,296 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 529 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Pro-Dex in the 4th quarter valued at $572,000. Finally, Bank of New York Mellon Corp acquired a new stake in Pro-Dex during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.