Wealthfront Advisers LLC Acquires Shares of 1,295,400 Varex Imaging Co. (NASDAQ:VREX)

Wealthfront Advisers LLC purchased a new stake in shares of Varex Imaging Co. (NASDAQ:VREX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,295,400 shares of the company’s stock, valued at approximately $18,900,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VREX. FMR LLC lifted its stake in Varex Imaging by 4,739.2% in the third quarter. FMR LLC now owns 200,341 shares of the company’s stock worth $2,388,000 after acquiring an additional 196,201 shares during the last quarter. Barclays PLC grew its stake in Varex Imaging by 15.3% in the 3rd quarter. Barclays PLC now owns 97,883 shares of the company’s stock valued at $1,166,000 after acquiring an additional 12,966 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Varex Imaging in the 3rd quarter valued at about $415,000. BNP Paribas Financial Markets lifted its position in Varex Imaging by 1,359.9% during the third quarter. BNP Paribas Financial Markets now owns 52,295 shares of the company’s stock worth $623,000 after buying an additional 48,713 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Varex Imaging during the 3rd quarter worth $2,593,000.

Varex Imaging Trading Up 2.2 %

Shares of Varex Imaging stock opened at $12.81 on Wednesday. The company’s fifty day simple moving average is $13.50 and its 200-day simple moving average is $13.40. Varex Imaging Co. has a 1 year low of $10.19 and a 1 year high of $18.30. 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 has a market cap of $527.77 million, a price-to-earnings ratio of -10.95 and a beta of 0.56.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 expect that Varex Imaging Co. will post 0.53 EPS for the current year.

Analyst Ratings Changes

VREX has been the subject of several recent analyst reports. StockNews.com upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Oppenheimer decreased their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Varex Imaging in a report on Friday, February 7th.

About Varex Imaging

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.