Cooke & Bieler LP trimmed its stake in Varex Imaging (NASDAQ:VREX – Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 944,511 shares of the company’s stock after selling 54,640 shares during the period. Cooke & Bieler LP owned approximately 2.24% of Varex Imaging worth $17,426,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in Varex Imaging by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock worth $31,000 after buying an additional 655 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Varex Imaging during the fourth quarter worth about $27,000. Fortitude Family Office LLC increased its stake in shares of Varex Imaging by 1,643.6% during the third quarter. Fortitude Family Office LLC now owns 2,441 shares of the company’s stock valued at $45,000 after buying an additional 2,301 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Varex Imaging in the 2nd quarter worth about $32,000. Finally, Farther Finance Advisors LLC lifted its holdings in Varex Imaging by 177.0% in the third quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock worth $66,000 after buying an additional 2,274 shares during the period.
Insider Activity
In other Varex Imaging news, CFO Shubham Maheshwari sold 130,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $18.46, for a total transaction of $2,399,800.00. Following the transaction, the chief financial officer directly owned 139,972 shares in the company, valued at $2,583,883.12. This represents a 48.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jay Kunkel sold 8,121 shares of Varex Imaging stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $18.48, for a total transaction of $150,076.08. Following the transaction, the director directly owned 15,329 shares in the company, valued at approximately $283,279.92. The trade was a 34.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.60% of the company’s stock.
Varex Imaging Price Performance
VREX stock opened at $18.42 on Thursday. The company has a fifty day simple moving average of $18.47 and a two-hundred day simple moving average of $13.69. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64. Varex Imaging has a 52 week low of $9.09 and a 52 week high of $18.63. The firm has a market capitalization of $775.48 million, a P/E ratio of 35.42 and a beta of 0.97.
Varex Imaging (NASDAQ:VREX – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. The firm had revenue of $210.50 million for the quarter, compared to the consensus estimate of $215.50 million. Analysts anticipate that Varex Imaging will post 1.04 earnings per share for the current fiscal year.
Analysts Set New Price Targets
VREX has been the subject of a number of analyst reports. Weiss Ratings raised shares of Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Oppenheimer downgraded shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. B. Riley Financial cut Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Zacks Research cut shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Seven equities research analysts have rated the stock with a Hold rating. According to MarketBeat, Varex Imaging presently has a consensus rating of “Hold” and a consensus target price of $16.88.
Check Out Our Latest Stock Report on Varex Imaging
Varex Imaging Profile
Varex Imaging Corporation develops and manufactures X-ray imaging components used in medical, industrial, and security applications. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, baggage inspection, cargo screening, and other imaging processes.
The company’s product portfolio includes X-ray tubes, digital detectors, image-processing software, high-voltage connectors, and other components for X-ray imaging systems. Varex also provides software and services designed to support image quality, system performance, and equipment integration.
Varex serves equipment manufacturers and other customers worldwide, with applications spanning healthcare, industrial inspection, and security screening.
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