Cullen Capital Management LLC Makes New $300,000 Investment in Varex Imaging $VREX

Cullen Capital Management LLC acquired a new stake in Varex Imaging (NASDAQ:VREX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,808 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds have also recently modified their holdings of the company. Algert Global LLC boosted its stake in shares of Varex Imaging by 22.5% in the 2nd quarter. Algert Global LLC now owns 264,088 shares of the company’s stock worth $2,754,000 after buying an additional 48,453 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Varex Imaging during the second quarter valued at approximately $3,061,000. Globeflex Capital L P purchased a new stake in shares of Varex Imaging during the second quarter valued at approximately $826,000. EP Wealth Advisors LLC bought a new stake in Varex Imaging during the second quarter worth $207,000. Finally, Ieq Capital LLC bought a new stake in Varex Imaging during the second quarter worth $325,000.

Wall Street Analysts Forecast Growth

VREX has been the subject of a number of recent analyst reports. Oppenheimer downgraded Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Sidoti reiterated a “neutral” rating and set a $19.00 target price on shares of Varex Imaging in a research note on Monday, August 10th. Wall Street Zen raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. CJS Securities lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Finally, B. Riley Financial downgraded shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $16.88.

Varex Imaging Price Performance

Varex Imaging stock opened at $18.50 on Wednesday. The business’s 50 day simple moving average is $12.70 and its 200 day simple moving average is $11.89. Varex Imaging has a 12 month low of $9.09 and a 12 month high of $18.63. The company has a market cap of $778.85 million, a price-to-earnings ratio of 35.58 and a beta of 0.89. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64.

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, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $210.50 million for the quarter, compared to analyst estimates of $215.50 million. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. Sell-side analysts forecast that Varex Imaging will post 0.98 EPS for the current year.

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.