Varex Imaging $VREX Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in shares of Varex Imaging (NASDAQ:VREX) by 58.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,785,166 shares of the company’s stock after selling 2,559,215 shares during the period. Pzena Investment Management LLC owned 4.24% of Varex Imaging worth $32,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Varex Imaging by 65.4% in the third quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock worth $31,000 after buying an additional 655 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Varex Imaging by 4.4% during the first 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 period. Glenmede Trust Co. NA boosted its position in Varex Imaging by 15.5% during the 1st quarter. Glenmede Trust Co. NA now owns 14,202 shares of the company’s stock valued at $151,000 after acquiring an additional 1,909 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Varex Imaging by 177.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock valued at $66,000 after acquiring an additional 2,274 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Varex Imaging by 5.2% during the 4th quarter. Hsbc Holdings PLC now owns 46,283 shares of the company’s stock valued at $544,000 after acquiring an additional 2,298 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Varex Imaging Stock Performance

Shares of VREX stock opened at $18.51 on Thursday. Varex Imaging has a 12-month low of $9.09 and a 12-month high of $18.63. The business’s fifty day simple moving average is $18.46 and its 200-day simple moving average is $13.69. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. The company has a market cap of $785.99 million, a PE ratio of 35.60 and a beta of 1.02.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $215.50 million. Analysts expect that Varex Imaging will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Varex Imaging

In other Varex Imaging news, Director Jay Kunkel sold 8,121 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $18.48, for a total transaction of $150,076.08. Following the sale, the director owned 15,329 shares in the company, valued at approximately $283,279.92. The trade was a 34.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Shubham Maheshwari sold 130,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was 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 owned 139,972 shares of the company’s stock, valued at approximately $2,583,883.12. The trade was a 48.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is owned by corporate insiders.

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.