Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Varex Imaging $VREX

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Varex Imaging (NASDAQ:VREX) during the 2nd quarter, Holdings Channel reports. The fund acquired 293,435 shares of the company’s stock, valued at approximately $3,061,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Varex Imaging by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 57,720 shares of the company’s stock worth $672,000 after buying an additional 1,261 shares during the period. SG Americas Securities LLC boosted its stake in Varex Imaging by 4.4% in the 1st quarter. SG Americas Securities LLC now owns 30,202 shares of the company’s stock worth $320,000 after buying an additional 1,272 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Varex Imaging by 10.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,302 shares of the company’s stock valued at $133,000 after buying an additional 1,442 shares during the period. Deutsche Bank AG grew its holdings in Varex Imaging by 5.7% in the 4th quarter. Deutsche Bank AG now owns 27,459 shares of the company’s stock valued at $320,000 after buying an additional 1,477 shares during the period. Finally, Comerica Bank increased its stake in shares of Varex Imaging by 9.3% during the 3rd quarter. Comerica Bank now owns 20,363 shares of the company’s stock valued at $253,000 after acquiring an additional 1,726 shares during the last quarter.

Varex Imaging Stock Performance

NASDAQ VREX opened at $18.50 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. Varex Imaging has a 1-year low of $9.09 and a 1-year high of $18.63. The firm has a market capitalization of $778.85 million, a P/E ratio of 35.58 and a beta of 0.89. The business’s 50-day simple moving average is $13.19 and its 200-day simple moving average is $12.00.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $215.50 million. Equities analysts predict that Varex Imaging will post 0.98 EPS for the current year.

Analyst Upgrades and Downgrades

VREX has been the topic of several recent analyst reports. Zacks Research lowered shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. CJS Securities lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Sidoti reaffirmed a “neutral” rating and set a $19.00 price target on shares of Varex Imaging in a research note on Monday, August 10th. B. Riley Financial downgraded shares of Varex Imaging from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Varex Imaging presently has an average rating of “Hold” and a consensus price target of $16.88.

Varex Imaging Company Profile

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.