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

Pro-Dex, Inc. (NASDAQ:PDEX) saw a significant 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 days-to-cover ratio is presently 0.5 days. Currently, 0.8% of the company’s stock are short sold.

Pro-Dex Stock Up 1.8 %

Pro-Dex stock traded up $0.89 during mid-day trading on Tuesday, reaching $49.78. The company’s stock had a trading volume of 18,979 shares, compared to its average volume of 21,593. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58. Pro-Dex has a 12 month low of $16.84 and a 12 month high of $59.60. The business’s 50 day simple moving average is $39.79 and its 200 day simple moving average is $38.48. The company has a market capitalization of $162.33 million, a price-to-earnings ratio of 24.77 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data 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 anticipate that Pro-Dex will post 2 earnings per share for the current year.

Insider Transactions at Pro-Dex

In related news, Director Raymond E. Cabillot sold 1,200 shares of the company’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 transaction, the director now directly owns 359,646 shares of the company’s stock, valued at approximately $17,176,692.96. This represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 40,595 shares of company stock valued at $1,842,192 over the last 90 days. 47.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pro-Dex

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Pro-Dex by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock worth $740,000 after buying an additional 529 shares during the last quarter. 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 last quarter. Renaissance Technologies LLC increased its stake in shares of Pro-Dex by 8.1% during the fourth quarter. Renaissance Technologies LLC now owns 14,740 shares of the medical instruments supplier’s stock worth $689,000 after purchasing an additional 1,100 shares during the period. Geode Capital Management LLC lifted its holdings 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. Finally, Bank of New York Mellon Corp bought a new stake in Pro-Dex in the 4th quarter valued at $202,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Analyst Ratings Changes

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

Pro-Dex Company Profile

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.