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

Pro-Dex, Inc. (NASDAQ:PDEX) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 21,600 shares, an increase of 20.7% from the January 31st total of 17,900 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 29,700 shares, the days-to-cover ratio is presently 0.7 days.

Insider Activity

In related news, Director Raymond E. Cabillot sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $47.76, for a total value of $57,312.00. Following the sale, the director now directly owns 359,646 shares in the company, valued at $17,176,692.96. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 27,770 shares of company stock valued at $1,239,312. 47.50% of the stock is currently owned by company insiders.

Institutional Trading of Pro-Dex

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its holdings 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 worth $119,000 after buying an additional 1,028 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Pro-Dex in the 4th quarter valued at approximately $202,000. Trexquant Investment LP acquired a new position in Pro-Dex in the 4th quarter worth approximately $252,000. Integrated Quantitative Investments LLC purchased a new position in Pro-Dex during the 4th quarter worth approximately $254,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Pro-Dex during the 4th quarter valued at $255,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Wall Street Analyst Weigh In

PDEX has been the topic of a number of recent analyst reports. Ascendiant Capital Markets lifted their price objective on shares of Pro-Dex from $30.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com lowered shares of Pro-Dex from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd.

Pro-Dex Price Performance

NASDAQ PDEX traded down $0.53 on Thursday, reaching $33.82. 15,763 shares of the stock traded hands, compared to its average volume of 27,624. Pro-Dex has a 12 month low of $16.83 and a 12 month high of $59.60. The company has a market cap of $110.29 million, a price-to-earnings ratio of 16.83 and a beta of 0.53. The firm’s fifty day simple moving average is $40.44 and its 200 day simple moving average is $37.04. 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 (NASDAQ:PDEX) last announced its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 predict that Pro-Dex will post 2 EPS for the current fiscal year.

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.