Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Down 21.8% in February

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 16,900 shares, a decline of 21.8% from the February 13th total of 21,600 shares. Based on an average daily volume of 30,900 shares, the short-interest ratio is presently 0.5 days. Currently, 0.8% of the company's stock are short sold.

Pro-Dex Stock Performance

Shares of NASDAQ:PDEX traded down $1.25 on Friday, reaching $47.81. The company's stock had a trading volume of 3,705 shares, compared to its average volume of 21,638. The stock has a market capitalization of $155.89 million, a P/E ratio of 23.78 and a beta of 0.68. Pro-Dex has a 52-week low of $16.84 and a 52-week high of $59.60. The stock's 50-day moving average is $39.74 and its two-hundred day moving average is $38.81. 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 posted its quarterly earnings results on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts forecast that Pro-Dex will post 2 EPS for the current year.

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Insider Buying and Selling

In other Pro-Dex news, Director Raymond E. Cabillot sold 5,381 shares of the company's stock in a transaction 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 transaction, the director now owns 319,752 shares in the company, valued at $13,314,473.28. This represents a 1.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 40,595 shares of company stock worth $1,842,192. Corporate insiders own 47.50% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in 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 buying an additional 1,028 shares during the period. Bank of New York Mellon Corp acquired a new stake in Pro-Dex during the fourth quarter worth approximately $202,000. Trexquant Investment LP acquired a new stake in Pro-Dex during the fourth quarter worth approximately $252,000. Integrated Quantitative Investments LLC acquired a new stake in Pro-Dex during the fourth quarter worth approximately $254,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Pro-Dex during the fourth quarter worth approximately $255,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.