Varex Imaging (NASDAQ:VREX) CFO Sells $2,399,800.00 in Stock

Varex Imaging (NASDAQ:VREX) CFO Shubham Maheshwari sold 130,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $18.46, for a total value of $2,399,800.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Varex Imaging Price Performance

Shares of NASDAQ:VREX opened at $18.54 on Friday. Varex Imaging has a one year low of $9.09 and a one year high of $18.63. The stock has a fifty day moving average of $15.42 and a 200-day moving average of $12.47. The company has a market capitalization of $780.53 million, a PE ratio of 35.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.53 and a current ratio of 3.38.

Varex Imaging (NASDAQ:VREX) last issued 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. The business had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $215.50 million. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. As a group, equities analysts anticipate that Varex Imaging will post 1.04 EPS for the current fiscal year.

Institutional Trading of Varex Imaging

Hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in Varex Imaging during the second quarter valued at approximately $542,000. Integrated Wealth Concepts LLC purchased a new stake in Varex Imaging in the 2nd quarter worth approximately $32,000. Squarepoint Ops LLC purchased a new stake in Varex Imaging in the 2nd quarter worth approximately $1,492,000. AXQ Capital LP acquired a new stake in shares of Varex Imaging during the 2nd quarter valued at $116,000. Finally, Empowered Funds LLC acquired a new stake in shares of Varex Imaging during the 2nd quarter valued at $1,043,000.

Analysts Set New Price Targets

Several analysts have issued reports on the company. B. Riley Financial downgraded Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Sidoti reissued a “neutral” rating and issued a $19.00 target price on shares of Varex Imaging 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. Zacks Research lowered shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, CJS Securities downgraded shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.88.

Varex Imaging Company Profile

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.

The company’s portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.

Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.