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

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

Analysts Set New Price Targets

A number of equities analysts have commented on PDEX shares. Ascendiant Capital Markets lifted their price objective on shares of Pro-Dex from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 9th. StockNews.com raised shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 7th.

Pro-Dex Stock Performance

Pro-Dex stock traded up $1.70 during mid-day trading on Monday, reaching $28.39. The company’s stock had a trading volume of 59,894 shares, compared to its average volume of 15,578. Pro-Dex has a twelve month low of $14.51 and a twelve month high of $29.99. The firm has a market cap of $95.39 million, a price-to-earnings ratio of 48.95 and a beta of 0.38. 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 business has a 50 day moving average price of $20.82 and a 200-day moving average price of $19.29.

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

Insider Transactions at Pro-Dex

In other 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 completion of the sale, the director now owns 8,191 shares of the company’s stock, valued at $149,895.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 42.60% of the company’s stock.

Institutional Investors Weigh In On Pro-Dex

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in Pro-Dex by 7.9% in the 2nd 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. Dimensional Fund Advisors LP grew its stake in shares of Pro-Dex by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 63,036 shares of the medical instruments supplier’s stock worth $1,238,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Perritt Capital Management Inc. increased its holdings in shares of Pro-Dex by 43.3% during the first quarter. Perritt Capital Management Inc. now owns 6,000 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,813 shares during the period. Institutional investors own 15.28% of the company’s stock.

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.