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

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 14,800 shares, a decline of 20.4% from the March 15th total of 18,600 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 8,500 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of Pro-Dex

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Pro-Dex by 345.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier’s stock worth $48,000 after buying an additional 2,084 shares during the last quarter. Perritt Capital Management Inc. bought a new position in Pro-Dex during the 4th quarter valued at about $73,000. UBS Group AG grew its holdings in Pro-Dex by 421.5% during the 1st quarter. UBS Group AG now owns 5,867 shares of the medical instruments supplier’s stock valued at $96,000 after purchasing an additional 4,742 shares during the last quarter. Renaissance Technologies LLC bought a new position in Pro-Dex during the 2nd quarter valued at about $168,000. Finally, State Street Corp grew its holdings in Pro-Dex by 5.8% during the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier’s stock valued at $197,000 after purchasing an additional 650 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Pro-Dex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th.

Pro-Dex Price Performance

PDEX stock traded up $0.93 during mid-day trading on Monday, hitting $18.97. The company had a trading volume of 6,062 shares, compared to its average volume of 8,195. The company has a market capitalization of $66.60 million, a price-to-earnings ratio of 24.40 and a beta of 0.60. Pro-Dex has a 12-month low of $14.51 and a 12-month high of $22.99. The company has a quick ratio of 2.16, a current ratio of 3.66 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $17.77 and a 200 day moving average price of $17.77.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.14 EPS for the quarter. The business had revenue of $12.59 million for the quarter. Pro-Dex had a net margin of 5.59% and a return on equity of 8.97%.

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.