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

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a significant drop in short interest in 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 presently 0.5 days. Currently, 0.8% of the shares of the stock are sold short.

Insider Buying and Selling at Pro-Dex

In other news, Director Raymond E. Cabillot sold 1,200 shares of the stock in a transaction dated 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 $17,176,692.96. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 35,444 shares of company stock valued at $1,584,642 over the last ninety days. Corporate insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 529 shares in the last quarter. FMR LLC raised its holdings in Pro-Dex by 34.9% during the third 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 in the last quarter. Renaissance Technologies LLC raised its holdings in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Pro-Dex by 9.1% during the third 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. Finally, Bank of New York Mellon Corp acquired a new position in shares of Pro-Dex in the 4th quarter valued at $202,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Pro-Dex Stock Down 0.9 %

Shares of NASDAQ PDEX traded down $0.44 during midday trading on Monday, hitting $49.23. The company’s stock had a trading volume of 27,394 shares, compared to its average volume of 33,654. The business’s fifty day simple moving average is $39.97 and its two-hundred day simple moving average is $38.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. Pro-Dex has a 1 year low of $16.83 and a 1 year high of $59.60. The firm has a market capitalization of $160.52 million, a price-to-earnings ratio of 24.49 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last issued its quarterly earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (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%. On average, equities analysts predict that Pro-Dex will post 2 EPS for the current 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.