Point72 Hong Kong Ltd Takes Position in Varex Imaging Co. (NASDAQ:VREX)

Point72 Hong Kong Ltd bought a new position in shares of Varex Imaging Co. (NASDAQ:VREX) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,266 shares of the company’s stock, valued at approximately $48,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealthfront Advisers LLC bought a new stake in Varex Imaging in the fourth quarter worth about $18,900,000. Royce & Associates LP raised its holdings in shares of Varex Imaging by 70.4% in the 4th quarter. Royce & Associates LP now owns 746,770 shares of the company’s stock worth $10,895,000 after purchasing an additional 308,629 shares during the period. Boston Partners purchased a new position in Varex Imaging in the fourth quarter valued at approximately $8,718,000. AQR Capital Management LLC grew its holdings in Varex Imaging by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 570,876 shares of the company’s stock valued at $8,329,000 after purchasing an additional 87,098 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Varex Imaging by 510.7% in the fourth quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company’s stock worth $6,881,000 after buying an additional 394,381 shares during the last quarter.

Insider Activity

In related news, SVP Kimberley E. Honeysett sold 4,007 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.81, for a total value of $51,329.67. Following the sale, the senior vice president now owns 4,002 shares in the company, valued at approximately $51,265.62. This trade represents a 50.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sunny Sanyal sold 8,749 shares of Varex Imaging stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total value of $98,338.76. Following the sale, the chief executive officer now directly owns 190,193 shares of the company’s stock, valued at $2,137,769.32. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

Varex Imaging Trading Down 0.1%

NASDAQ:VREX opened at $7.88 on Friday. Varex Imaging Co. has a 1 year low of $6.76 and a 1 year high of $16.93. The stock’s fifty day moving average price is $9.36 and its two-hundred day moving average price is $12.52. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.36 and a quick ratio of 2.50. The company has a market cap of $324.66 million, a P/E ratio of -6.73 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $212.90 million for the quarter, compared to analysts’ expectations of $206.76 million. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. As a group, analysts expect that Varex Imaging Co. will post 0.53 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. B. Riley raised Varex Imaging to a “strong-buy” rating in a research report on Monday, May 12th. StockNews.com raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Oppenheimer reduced their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 7th.

Varex Imaging Profile

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.