Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Up 20.7% in February

Pro-Dex, Inc. (NASDAQ:PDEX) was the recipient of a large 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. Based on an average trading volume of 29,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.0% of the shares of the company are sold short.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 1,100 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $45.01, for a total transaction of $49,511.00. Following the sale, the director now directly owns 318,652 shares in the company, valued at approximately $14,342,526.52. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 27,770 shares of company stock worth $1,239,312 in the last three months. 47.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bard Associates Inc. increased its stake in shares of Pro-Dex by 17.6% during the 3rd quarter. Bard Associates Inc. now owns 13,596 shares of the medical instruments supplier’s stock worth $406,000 after purchasing an additional 2,031 shares during the last quarter. FMR LLC lifted its stake in Pro-Dex by 34.9% in the 3rd 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. 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 acquiring an additional 2,296 shares during the last quarter. JPMorgan Chase & Co. raised its position in Pro-Dex by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier’s stock valued at $740,000 after purchasing an additional 529 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of Pro-Dex during the fourth quarter valued at about $572,000. 15.28% of the stock is owned by institutional investors and hedge funds.

Pro-Dex Price Performance

NASDAQ:PDEX traded down $0.18 during mid-day trading on Friday, hitting $33.87. The company’s stock had a trading volume of 35,358 shares, compared to its average volume of 27,850. The company has a market capitalization of $110.43 million, a price-to-earnings ratio of 16.85 and a beta of 0.53. The stock has a fifty day moving average of $40.13 and a 200-day moving average of $37.02. Pro-Dex has a fifty-two week low of $16.83 and a fifty-two week high of $59.60. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.33.

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, topping 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, equities analysts forecast that Pro-Dex will post 2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDEX has been the topic of a number of research reports. Ascendiant Capital Markets upped their price target on shares of Pro-Dex from $30.00 to $52.00 and gave the stock 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 report on Monday, February 3rd.

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.