Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Up 38.2% in March

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 62,200 shares, a growth of 38.2% from the March 15th total of 45,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily volume of 35,700 shares, the short-interest ratio is currently 1.7 days.

Pro-Dex Trading Up 2.1 %

NASDAQ PDEX traded up $1.35 on Wednesday, reaching $64.81. The company had a trading volume of 30,683 shares, compared to its average volume of 25,126. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.33. Pro-Dex has a 52 week low of $16.84 and a 52 week high of $66.14. The stock has a market cap of $211.35 million, a price-to-earnings ratio of 32.24 and a beta of 0.40. The stock's 50 day moving average is $47.44 and its 200-day moving average is $43.79.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 EPS for the quarter, beating the consensus estimate of $0.38 by $0.23. Pro-Dex had a net margin of 11.06% and a return on equity of 21.68%. Equities analysts predict that Pro-Dex will post 2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Pro-Dex

In related news, Director Raymond E. Cabillot sold 5,381 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $41.64, for a total value of $224,064.84. Following the completion of the sale, the director now owns 319,752 shares of the company's stock, valued at $13,314,473.28. This trade represents a 1.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 28,699 shares of company stock valued at $1,339,828 in the last three months. Corporate insiders own 47.50% of the company's stock.

Institutional Trading of Pro-Dex

A number of large investors have recently bought and sold shares of PDEX. FMR LLC increased its position in shares of Pro-Dex by 34.9% during the third quarter. FMR LLC now owns 3,973 shares of the medical instruments supplier's stock worth $119,000 after acquiring an additional 1,028 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Pro-Dex in the fourth quarter valued at about $202,000. Trexquant Investment LP bought a new position in shares of Pro-Dex during the fourth quarter worth about $252,000. Integrated Quantitative Investments LLC acquired a new stake in Pro-Dex in the 4th quarter valued at approximately $254,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Pro-Dex during the 4th quarter worth approximately $255,000. 15.28% of the stock is owned by institutional investors.

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.