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

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

Pro-Dex Stock Down 0.9 %

Shares of Pro-Dex stock traded down $0.44 on Monday, reaching $49.23. The stock had a trading volume of 27,394 shares, compared to its average volume of 33,654. The company has a 50 day moving average price of $39.97 and a 200 day moving average price of $38.30. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. Pro-Dex has a 1 year low of $16.83 and a 1 year high of $59.60. The stock has a market capitalization of $160.52 million, a P/E ratio of 24.49 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last released its earnings results 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%. As a group, equities research analysts forecast that Pro-Dex will post 2 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 1,200 shares of the firm’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 of the company’s stock, valued at approximately $17,176,692.96. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 35,444 shares of company stock valued at $1,584,642. Company insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

Large investors have recently bought and sold shares of the stock. Ritholtz Wealth Management purchased a new stake in Pro-Dex during the 4th quarter worth approximately $572,000. FMR LLC grew its position in Pro-Dex by 34.9% during the 3rd quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier’s stock worth $119,000 after purchasing an additional 1,028 shares during the last quarter. Geode Capital Management LLC grew its position in Pro-Dex by 9.1% during 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 during the last quarter. JPMorgan Chase & Co. lifted its stake in Pro-Dex by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after acquiring an additional 529 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in Pro-Dex during the 4th quarter valued at approximately $739,000. 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.