Short Interest in Pro-Dex, Inc. (NASDAQ:PDEX) Declines By 20.4%

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 14,800 shares, a decrease of 20.4% from the March 15th total of 18,600 shares. Based on an average daily volume of 8,500 shares, the short-interest ratio is currently 1.7 days. Currently, 0.6% of the company's shares are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Pro-Dex from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 20th.

Pro-Dex Trading Down 2.0 %

Shares of Pro-Dex stock traded down $0.36 during trading hours on Friday, hitting $18.04. The company's stock had a trading volume of 8,410 shares, compared to its average volume of 6,140. Pro-Dex has a twelve month low of $14.51 and a twelve month high of $22.99. The firm has a fifty day moving average of $17.77 and a 200-day moving average of $17.76. The stock has a market cap of $63.32 million, a price-to-earnings ratio of 24.05 and a beta of 0.60. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.16 and a current ratio of 3.66.

Pro-Dex (NASDAQ:PDEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.14 EPS for the quarter. Pro-Dex had a return on equity of 8.97% and a net margin of 5.59%. The business had revenue of $12.59 million for the quarter.

Hedge Funds Weigh In On Pro-Dex

Several large investors have recently modified their holdings of PDEX. Tower Research Capital LLC TRC lifted its stake in Pro-Dex by 345.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the medical instruments supplier's stock worth $48,000 after acquiring an additional 2,084 shares in the last quarter. Perritt Capital Management Inc. acquired a new position in Pro-Dex during the 4th quarter worth about $73,000. UBS Group AG lifted its stake in Pro-Dex by 421.5% during the 1st quarter. UBS Group AG now owns 5,867 shares of the medical instruments supplier's stock worth $96,000 after acquiring an additional 4,742 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Pro-Dex during the 2nd quarter worth about $168,000. Finally, State Street Corp lifted its stake in Pro-Dex by 5.8% during the 1st quarter. State Street Corp now owns 11,923 shares of the medical instruments supplier's stock worth $197,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds 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.