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

Pro-Dex, Inc. (NASDAQ:PDEXGet Rating) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 16,000 shares, a growth of 39.1% from the April 30th total of 11,500 shares. Based on an average daily volume of 11,700 shares, the short-interest ratio is currently 1.4 days. Currently, 0.6% of the shares of the stock are short sold.

Several institutional investors and hedge funds have recently modified their holdings of PDEX. Wells Fargo & Company MN increased its position in shares of Pro-Dex by 11.2% during the 2nd quarter. Wells Fargo & Company MN now owns 3,283 shares of the medical instruments supplier’s stock worth $101,000 after purchasing an additional 331 shares during the last quarter. State Street Corp increased its position in shares of 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 purchasing an additional 650 shares during the last quarter. Morgan Stanley increased its position in shares of Pro-Dex by 149.7% during the 2nd quarter. Morgan Stanley now owns 2,622 shares of the medical instruments supplier’s stock worth $80,000 after purchasing an additional 1,572 shares during the last quarter. LSV Asset Management increased its position in shares of Pro-Dex by 13.9% during the 1st quarter. LSV Asset Management now owns 35,581 shares of the medical instruments supplier’s stock worth $588,000 after purchasing an additional 4,346 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Pro-Dex by 10.7% during the 3rd quarter. BlackRock Inc. now owns 49,114 shares of the medical instruments supplier’s stock worth $1,261,000 after purchasing an additional 4,752 shares during the last quarter. 16.73% of the stock is owned by institutional investors and hedge funds.

Shares of PDEX traded up $0.17 during midday trading on Monday, reaching $15.51. The company had a trading volume of 200 shares, compared to its average volume of 10,106. Pro-Dex has a 1-year low of $12.40 and a 1-year high of $35.68. The stock has a market cap of $56.13 million, a PE ratio of 17.83 and a beta of 1.12. The firm has a 50 day simple moving average of $15.54 and a 200-day simple moving average of $19.53. The company has a quick ratio of 2.10, a current ratio of 3.64 and a debt-to-equity ratio of 0.47.

A number of research analysts have weighed in on the company. Ascendiant Capital Markets decreased their price objective on Pro-Dex to $30.00 and set a “na” rating on the stock in a report on Monday, May 16th. StockNews.com began coverage on Pro-Dex in a report on Sunday. They issued a “hold” rating on the stock.

About Pro-Dex (Get Rating)

Pro-Dex, Inc designs, develops, and manufactures 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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