Short Interest in Pro-Dex, Inc. (NASDAQ:PDEX) Rises By 61.9%

Pro-Dex, Inc. (NASDAQ:PDEX - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 100,700 shares, a growth of 61.9% from the March 31st total of 62,200 shares. Approximately 4.8% of the company's stock are short sold. Based on an average trading volume of 39,100 shares, the short-interest ratio is currently 2.6 days.

Insider Buying and Selling

In other news, Director Raymond E. Cabillot sold 7,674 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $45.00, for a total value of $345,330.00. Following the transaction, the director now owns 310,978 shares in the company, valued at approximately $13,994,010. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 22,483 shares of company stock valued at $1,080,693 over the last quarter. Corporate insiders own 47.50% of the company's stock.

Hedge Funds Weigh In On Pro-Dex

A number of large investors have recently added to or reduced their stakes in PDEX. EAM Investors LLC purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $1,047,000. O Shaughnessy Asset Management LLC purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $995,000. 683 Capital Management LLC purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $739,000. Ritholtz Wealth Management purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $572,000. Finally, American Century Companies Inc. purchased a new stake in Pro-Dex in the fourth quarter valued at approximately $558,000. 15.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Pro-Dex Trading Down 3.8 %

Shares of PDEX stock opened at $66.40 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.58 and a quick ratio of 1.44. The stock's 50 day simple moving average is $50.57 and its two-hundred day simple moving average is $45.09. Pro-Dex has a 1 year low of $16.84 and a 1 year high of $70.26. The company has a market cap of $216.53 million, a PE ratio of 33.03 and a beta of 0.40.

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

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.

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