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

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the recipient of a significant increase in short interest in 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. Approximately 2.2% of the company's stock are sold short. Based on an average daily volume of 31,600 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

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

Pro-Dex Stock Performance

PDEX traded up $0.38 during trading hours on Monday, reaching $48.61. The company's stock had a trading volume of 9,768 shares, compared to its average volume of 22,177. The company's 50-day moving average is $40.21 and its 200-day moving average is $40.09. Pro-Dex has a 52 week low of $16.84 and a 52 week high of $59.60. The firm has a market cap of $158.52 million, a PE ratio of 24.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.44 and a current ratio of 2.58.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical instruments supplier reported $0.61 earnings per share 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%. On average, equities analysts forecast that Pro-Dex will post 2 EPS for the current year.

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Insider Buying and Selling at Pro-Dex

In other news, Director Raymond E. Cabillot sold 3,096 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $50.13, for a total transaction of $155,202.48. Following the transaction, the director now directly owns 279,787 shares in the company, valued at $14,025,722.31. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 47,475 shares of company stock worth $2,186,594 over the last ninety days. 47.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of Pro-Dex by 34.9% in the third 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 last quarter. Geode Capital Management LLC boosted its stake in Pro-Dex by 9.1% in the 3rd quarter. Geode Capital Management LLC now owns 27,435 shares of the medical instruments supplier's stock valued at $819,000 after purchasing an additional 2,296 shares during the period. JPMorgan Chase & Co. grew its holdings in Pro-Dex by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,790 shares of the medical instruments supplier's stock valued at $740,000 after buying an additional 529 shares in the last quarter. Ritholtz Wealth Management bought a new position in Pro-Dex during the 4th quarter worth $572,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Pro-Dex during the fourth quarter worth $202,000. 15.28% of the stock is owned by institutional investors.

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.