Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Up 166.3% in March

Pro-Dex, Inc. (NASDAQ:PDEX) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 45,000 shares, an increase of 166.3% from the February 28th total of 16,900 shares. Based on an average daily trading volume, of 31,600 shares, the short-interest ratio is currently 1.4 days. Currently, 2.2% of the company’s shares are short sold.

Pro-Dex Stock Down 0.4 %

Shares of Pro-Dex stock opened at $49.41 on Thursday. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $59.60. The company has a 50 day moving average of $40.02 and a 200 day moving average of $39.68. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $161.13 million, a P/E ratio of 24.58 and a beta of 0.68.

Pro-Dex (NASDAQ:PDEX) last posted its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that Pro-Dex will post 2 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Pro-Dex

In related news, Director Raymond E. Cabillot sold 835 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $42.00, for a total transaction of $35,070.00. Following the completion of the transaction, the director now directly owns 334,646 shares in the company, valued at $14,055,132. This trade represents a 0.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 44,379 shares of company stock worth $2,031,392. Company insiders own 47.50% of the company’s stock.

Institutional Trading of Pro-Dex

Several institutional investors and hedge funds have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp acquired a new position in Pro-Dex in the 4th quarter valued at about $313,000. Millennium Management LLC acquired a new stake in shares of Pro-Dex in the 4th quarter valued at approximately $260,000. 683 Capital Management LLC purchased a new stake in shares of Pro-Dex during the 4th quarter worth $739,000. Northern Trust Corp grew its stake in shares of Pro-Dex by 14.1% during the 4th quarter. Northern Trust Corp now owns 35,754 shares of the medical instruments supplier’s stock worth $1,672,000 after purchasing an additional 4,426 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Pro-Dex in the 4th quarter valued at about $433,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.