Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Down 15.5% in July

Pro-Dex, Inc. (NASDAQ:PDEX – Get Rating) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 12,000 shares, a decline of 15.5% from the June 30th total of 14,200 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average trading volume of 5,900 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Trading of Pro-Dex

A number of hedge funds and other institutional investors have recently modified their holdings of PDEX. State Street Corp raised its position in shares of Pro-Dex by 5.8% during the first 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 period. LSV Asset Management raised its position in shares of Pro-Dex by 13.9% during the first 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 period. Finally, JPMorgan Chase & Co. raised its position in shares of Pro-Dex by 59.2% during the first quarter. JPMorgan Chase & Co. now owns 20,863 shares of the medical instruments supplier’s stock worth $345,000 after purchasing an additional 7,762 shares during the period. Institutional investors own 16.73% of the company’s stock.

Pro-Dex Stock Down 0.3 %

PDEX opened at $15.75 on Friday. Pro-Dex has a one year low of $12.40 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.10 and a current ratio of 3.64. The stock’s fifty day moving average is $15.76 and its 200-day moving average is $17.01. The company has a market capitalization of $57.00 million, a PE ratio of 18.10 and a beta of 1.01.

Pro-Dex (NASDAQ:PDEX – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The medical instruments supplier reported $0.12 EPS for the quarter. Pro-Dex had a return on equity of 15.41% and a net margin of 8.50%. The company had revenue of $9.27 million for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PDEX shares. Ascendiant Capital Markets reduced their price target on Pro-Dex to $30.00 and set a “na” rating for the company in a research report on Monday, May 16th. StockNews.com began coverage on Pro-Dex in a research report on Monday. They set a “hold” rating for the company.

About Pro-Dex

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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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