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

Pro-Dex, Inc. (NASDAQ:PDEX) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,000 shares, an increase of 47.1% from the August 15th total of 3,400 shares. Based on an average trading volume of 9,100 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PDEX shares. Ascendiant Capital Markets lifted their price target on Pro-Dex from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 9th. StockNews.com raised Pro-Dex from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th.

Pro-Dex Price Performance

PDEX stock traded up $1.70 on Monday, hitting $28.39. 59,894 shares of the company’s stock traded hands, compared to its average volume of 15,578. The stock has a market cap of $95.39 million, a price-to-earnings ratio of 48.95 and a beta of 0.38. Pro-Dex has a 1-year low of $14.51 and a 1-year high of $29.99. The company has a current ratio of 2.84, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average of $20.82 and a 200-day moving average of $19.29.

Pro-Dex (NASDAQ:PDEX) last announced its quarterly earnings data on Thursday, September 5th. The medical instruments supplier reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $15.03 million during the quarter. Pro-Dex had a return on equity of 6.82% and a net margin of 3.95%.

Insider Transactions at Pro-Dex

In related news, Director Angelita Rebamontan Domingo sold 2,585 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $18.30, for a total transaction of $47,305.50. Following the transaction, the director now owns 8,191 shares in the company, valued at $149,895.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 42.60% of the company’s stock.

Institutional Investors Weigh In On Pro-Dex

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Pro-Dex by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after buying an additional 3,067 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Pro-Dex by 7.9% during the second quarter. Renaissance Technologies LLC now owns 12,240 shares of the medical instruments supplier’s stock valued at $240,000 after acquiring an additional 900 shares during the period. Finally, Perritt Capital Management Inc. lifted its position in shares of Pro-Dex by 43.3% in the 1st quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 1,813 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other 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.