Pro-Dex Inc (NASDAQ:PDEX) Short Interest Update

Pro-Dex Inc (NASDAQ:PDEX) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 19,900 shares, a growth of 385.4% from the May 30th total of 4,100 shares. Based on an average daily trading volume, of 28,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s stock are sold short.

In related news, Director Raymond E. Cabillot sold 7,451 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $16.05, for a total transaction of $119,588.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kirk Richard Lee Van, Jr. purchased 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $13.25 per share, with a total value of $46,375.00. Following the acquisition, the chief executive officer now directly owns 24,897 shares of the company’s stock, valued at approximately $329,885.25. The disclosure for this purchase can be found here. Insiders have sold 48,739 shares of company stock valued at $821,291 in the last quarter. 41.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Pro-Dex by 49.2% in the 4th quarter. BlackRock Inc. now owns 12,369 shares of the medical instruments supplier’s stock valued at $150,000 after purchasing an additional 4,078 shares during the period. Alambic Investment Management L.P. grew its stake in Pro-Dex by 6.2% in the 1st quarter. Alambic Investment Management L.P. now owns 73,583 shares of the medical instruments supplier’s stock valued at $1,065,000 after purchasing an additional 4,291 shares during the period. Dimensional Fund Advisors LP bought a new position in Pro-Dex in the 4th quarter valued at $183,000. O Shaughnessy Asset Management LLC bought a new position in Pro-Dex in the 1st quarter valued at $242,000. Finally, Deutsche Bank AG grew its stake in Pro-Dex by 146.7% in the 4th quarter. Deutsche Bank AG now owns 42,606 shares of the medical instruments supplier’s stock valued at $514,000 after purchasing an additional 25,333 shares during the period. Hedge funds and other institutional investors own 12.96% of the company’s stock.

Shares of Pro-Dex stock opened at $13.89 on Friday. The stock’s fifty day moving average is $12.36. Pro-Dex has a 12-month low of $6.15 and a 12-month high of $17.95. The company has a market capitalization of $54.70 million, a P/E ratio of 16.83 and a beta of 1.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.88 and a quick ratio of 4.60.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $6.85 million during the quarter. Pro-Dex had a return on equity of 19.69% and a net margin of 12.98%.

Separately, Ascendiant Capital Markets set a $2,000.00 price target on Booking and gave the stock a “buy” rating in a report on Tuesday, May 14th.

Pro-Dex Company Profile

Pro-Dex, Inc, together with its subsidiaries, designs, develops, and manufactures powered surgical instruments, dental instruments, and rotary air motors worldwide. It also manufactures plastic injection molds for various industries; and shavers and machined parts. In addition, it provides engineering, and quality and regulatory consulting services.

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