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

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

Wall Street Analyst Weigh In

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

Pro-Dex Stock Down 3.5 %

PDEX stock traded down $1.75 during trading on Friday, reaching $48.23. The stock had a trading volume of 24,983 shares, compared to its average volume of 22,220. 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 $157.28 million, a price-to-earnings ratio of 24.00 and a beta of 0.68. Pro-Dex has a one year low of $16.84 and a one year high of $59.60. The company’s 50 day moving average is $40.13 and its two-hundred day moving average is $39.75.

Pro-Dex (NASDAQ:PDEX) last released its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (EPS) 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%. Equities research analysts forecast that Pro-Dex will post 2 EPS for the current year.

Insider Activity

In other news, Director Raymond E. Cabillot sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $47.76, for a total value of $57,312.00. Following the transaction, the director now owns 359,646 shares in the company, valued at $17,176,692.96. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 47,475 shares of company stock worth $2,186,594 over the last three months. 47.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EAM Investors LLC bought a new stake in shares of Pro-Dex during the 4th quarter worth $1,047,000. O Shaughnessy Asset Management LLC bought a new stake in Pro-Dex in the fourth quarter worth about $995,000. 683 Capital Management LLC purchased a new position in Pro-Dex in the fourth quarter valued at about $739,000. Ritholtz Wealth Management bought a new position in shares of Pro-Dex during the 4th quarter valued at approximately $572,000. Finally, American Century Companies Inc. bought a new stake in shares of Pro-Dex in the 4th quarter worth approximately $558,000. 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.