BNP Paribas Arbitrage SA bought a new stake in Varex Imaging (NASDAQ:VREX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,755 shares of the company’s stock, valued at approximately $397,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new position in Varex Imaging in the 2nd quarter valued at about $2,413,000. Bank of New York Mellon Corp purchased a new position in Varex Imaging in the 2nd quarter valued at about $15,286,000. SG Americas Securities LLC purchased a new position in Varex Imaging in the 2nd quarter valued at about $1,062,000. SFE Investment Counsel purchased a new position in Varex Imaging in the 2nd quarter valued at about $1,761,000. Finally, QV Investors Inc. purchased a new position in Varex Imaging in the 2nd quarter valued at about $59,839,000. Institutional investors own 91.79% of the company’s stock.
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VREX has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, June 22nd. Jefferies Group LLC initiated coverage on shares of Varex Imaging in a report on Wednesday, August 9th. They set a “buy” rating and a $34.00 price objective on the stock. Finally, J P Morgan Chase & Co upgraded shares of Varex Imaging from an “underweight” rating to a “neutral” rating and set a $33.00 price objective on the stock in a report on Tuesday, August 8th.
Shares of Varex Imaging (VREX) opened at 32.11 on Friday. The firm has a market cap of $1.21 billion and a P/E ratio of 20.54. The company’s 50-day moving average is $30.07 and its 200-day moving average is $32.61. Varex Imaging has a 52-week low of $25.00 and a 52-week high of $36.58.
Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The firm had revenue of $170.00 million during the quarter, compared to analyst estimates of $179.05 million. Varex Imaging’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Varex Imaging will post $1.75 earnings per share for the current fiscal year.
About Varex Imaging
Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.
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