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

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the recipient of a significant increase in short interest during 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 daily trading volume, of 29,700 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the company's stock are sold short.

Pro-Dex Price Performance

Shares of NASDAQ:PDEX traded up $6.04 on Friday, reaching $40.08. 156,637 shares of the company traded hands, compared to its average volume of 30,646. Pro-Dex has a fifty-two week low of $16.83 and a fifty-two week high of $59.60. The company's 50 day moving average is $39.94 and its 200-day moving average is $37.28. The stock has a market capitalization of $130.70 million, a PE ratio of 19.94 and a beta of 0.68. 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 (NASDAQ:PDEX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, beating 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, analysts anticipate that Pro-Dex will post 2 earnings per share for the current fiscal year.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on PDEX shares. StockNews.com downgraded Pro-Dex from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 3rd. Ascendiant Capital Markets upped their target price on Pro-Dex from $30.00 to $52.00 and gave the stock a "buy" rating in a research report on Monday, November 11th.

Insider Activity at Pro-Dex

In other Pro-Dex news, Director Raymond E. Cabillot sold 835 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $42.00, for a total value of $35,070.00. Following the completion of the sale, the director now directly owns 334,646 shares in the company, valued at $14,055,132. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 27,770 shares of company stock valued at $1,239,312 over the last three months. 47.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Pro-Dex

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Pro-Dex by 34.9% during 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 period. Bank of New York Mellon Corp acquired a new stake in Pro-Dex during the 4th quarter valued at $202,000. Trexquant Investment LP acquired a new stake in Pro-Dex during the 4th quarter valued at $252,000. Integrated Quantitative Investments LLC acquired a new stake in Pro-Dex during the 4th quarter valued at $254,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Pro-Dex during the 4th quarter valued at $255,000. Institutional investors and hedge funds own 15.28% of the company's stock.

Pro-Dex Company Profile

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.