GAM Holding AG grew its position in Varex Imaging Corp (NASDAQ:VREX) by 66.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,140 shares of the company’s stock after purchasing an additional 15,200 shares during the quarter. GAM Holding AG’s holdings in Varex Imaging were worth $1,093,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Diamant Asset Management Inc. acquired a new position in shares of Varex Imaging in the 3rd quarter valued at approximately $115,000. Meeder Asset Management Inc. acquired a new position in shares of Varex Imaging in the 3rd quarter valued at approximately $115,000. Stevens Capital Management LP acquired a new position in shares of Varex Imaging in the 3rd quarter valued at approximately $269,000. Victory Capital Management Inc. raised its position in shares of Varex Imaging by 43.9% in the 3rd quarter. Victory Capital Management Inc. now owns 9,820 shares of the company’s stock valued at $281,000 after buying an additional 2,996 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Varex Imaging in the 2nd quarter valued at approximately $298,000. Institutional investors own 97.82% of the company’s stock.
VREX has been the topic of several research reports. Zacks Investment Research raised shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Varex Imaging in a report on Thursday, November 15th. TheStreet lowered shares of Varex Imaging from a “c-” rating to a “d+” rating in a report on Friday, October 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.00.
Shares of Varex Imaging stock opened at $24.07 on Friday. The company has a market cap of $975.08 million, a P/E ratio of 18.52, a P/E/G ratio of 1.90 and a beta of 1.58. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.47 and a current ratio of 3.01. Varex Imaging Corp has a 1 year low of $23.86 and a 1 year high of $43.76.
Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $204.80 million for the quarter, compared to the consensus estimate of $192.10 million. Varex Imaging had a net margin of 3.56% and a return on equity of 11.96%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts forecast that Varex Imaging Corp will post 1.35 EPS for the current year.
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About Varex Imaging
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
Further Reading: What are Institutional Investors?
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