Pro-Dex, Inc. (NASDAQ:PDEX) Sees Significant Decrease in Short Interest

Pro-Dex, Inc. (NASDAQ:PDEX) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 16,900 shares, a decrease of 21.8% from the February 13th total of 21,600 shares. Based on an average trading volume of 30,900 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.8% of the company’s stock are sold short.

Pro-Dex Stock Performance

Shares of NASDAQ PDEX traded up $0.89 during trading hours on Tuesday, reaching $49.78. The stock had a trading volume of 18,979 shares, compared to its average volume of 21,593. Pro-Dex has a twelve month low of $16.84 and a twelve month high of $59.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. The business’s fifty day moving average is $39.79 and its two-hundred day moving average is $38.48. The company has a market cap of $162.33 million, a price-to-earnings ratio of 24.77 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last posted 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 return on equity of 21.68% and a net margin of 11.06%. As a group, research analysts expect that Pro-Dex will post 2 EPS for the current year.

Insider Transactions at Pro-Dex

In other news, Director Raymond E. Cabillot sold 1,200 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $47.76, for a total value of $57,312.00. Following the completion of the sale, the director now directly owns 359,646 shares in the company, valued at approximately $17,176,692.96. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 40,595 shares of company stock worth $1,842,192. 47.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

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

Analyst Ratings Changes

Separately, StockNews.com lowered 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.