Russell Investments Group Ltd. increased its position in shares of Varex Imaging Corp (NASDAQ:VREX) by 73.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,417 shares of the company’s stock after purchasing an additional 101,068 shares during the quarter. Russell Investments Group Ltd. owned 0.63% of Varex Imaging worth $7,334,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Magnus Financial Group LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $209,000. Janney Montgomery Scott LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $212,000. CWM Advisors LLC raised its position in Varex Imaging by 15.8% during the second quarter. CWM Advisors LLC now owns 7,310 shares of the company’s stock valued at $224,000 after acquiring an additional 996 shares in the last quarter. Sun Life Financial INC raised its position in Varex Imaging by 44.8% during the second quarter. Sun Life Financial INC now owns 7,451 shares of the company’s stock valued at $228,000 after acquiring an additional 2,305 shares in the last quarter. Finally, Barings LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $254,000. 92.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Varex Imaging stock traded down $0.33 on Thursday, reaching $29.76. The company’s stock had a trading volume of 5,611 shares, compared to its average volume of 276,945. The company has a market capitalization of $1.16 billion, a P/E ratio of 22.85, a PEG ratio of 2.23 and a beta of 1.88. Varex Imaging Corp has a 52-week low of $21.57 and a 52-week high of $35.00. The stock has a 50-day moving average price of $28.05 and a 200-day moving average price of $30.35. The company has a quick ratio of 1.04, a current ratio of 2.58 and a debt-to-equity ratio of 0.87.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.07). The business had revenue of $196.70 million during the quarter, compared to analysts’ expectations of $189.42 million. Varex Imaging had a net margin of 0.97% and a return on equity of 10.01%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. Sell-side analysts forecast that Varex Imaging Corp will post 1.3 earnings per share for the current fiscal year.
In related news, SVP Kimberley E. Honeysett sold 916 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $30.00, for a total transaction of $27,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Bruce Yankton sold 1,149 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $31.00, for a total value of $35,619.00. The disclosure for this sale can be found here. Insiders have sold 2,333 shares of company stock valued at $71,289 over the last quarter. 2.40% of the stock is owned by company insiders.
VREX has been the subject of several recent research reports. CJS Securities upgraded Varex Imaging from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 11th. Northland Securities restated a “buy” rating and issued a $42.00 price objective on shares of Varex Imaging in a research report on Wednesday, August 7th. Jefferies Financial Group set a $31.00 price objective on Varex Imaging and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research cut Varex Imaging from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.20.
Varex Imaging Profile
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 detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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