Varex Imaging Co. (NASDAQ:VREX) Short Interest Update

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 966,300 shares, a decrease of 17.4% from the February 13th total of 1,170,000 shares. Based on an average daily volume of 511,600 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.5% of the shares of the stock are short sold.

Institutional Trading of Varex Imaging

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its holdings in shares of Varex Imaging by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 161,344 shares of the company’s stock valued at $2,354,000 after purchasing an additional 791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Varex Imaging by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,072 shares of the company’s stock valued at $322,000 after purchasing an additional 864 shares during the period. Barclays PLC increased its holdings in shares of Varex Imaging by 1.1% in the 4th quarter. Barclays PLC now owns 98,964 shares of the company’s stock valued at $1,444,000 after purchasing an additional 1,081 shares during the period. Isthmus Partners LLC increased its holdings in shares of Varex Imaging by 0.8% in the 4th quarter. Isthmus Partners LLC now owns 149,874 shares of the company’s stock valued at $2,187,000 after purchasing an additional 1,260 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Varex Imaging by 115.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after purchasing an additional 1,520 shares during the period.

Analysts Set New Price Targets

Several research firms recently weighed in on VREX. Oppenheimer reduced their price objective on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, February 7th. B. Riley reiterated a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of Varex Imaging in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Friday, February 7th.

Varex Imaging Price Performance

Shares of Varex Imaging stock opened at $12.83 on Wednesday. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average price is $13.33 and its two-hundred day moving average price is $13.42. Varex Imaging has a 52 week low of $10.19 and a 52 week high of $18.30. The stock has a market cap of $528.60 million, a PE ratio of -10.97 and a beta of 0.56.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. As a group, sell-side analysts anticipate that Varex Imaging will post 0.53 EPS for the current fiscal year.

Varex Imaging Company 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.