Point72 Asia Singapore Pte. Ltd. Reduces Holdings in Varex Imaging Co. (NASDAQ:VREX)

Point72 Asia Singapore Pte. Ltd. trimmed its stake in Varex Imaging Co. (NASDAQ:VREX) by 78.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,050 shares of the company’s stock after selling 51,242 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Varex Imaging were worth $205,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new position in shares of Varex Imaging in the 4th quarter valued at $25,000. Quadrant Capital Group LLC grew its position 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 buying an additional 1,520 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Varex Imaging in the 4th quarter valued at $48,000. KLP Kapitalforvaltning AS purchased a new position in shares of Varex Imaging in the 4th quarter valued at $98,000. Finally, US Bancorp DE boosted its stake in Varex Imaging by 149.8% during the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock worth $108,000 after purchasing an additional 4,429 shares during the period.

Insider Transactions at Varex Imaging

In other news, SVP Kimberley E. Honeysett sold 4,007 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.81, for a total value of $51,329.67. Following the completion of the sale, the senior vice president now owns 4,002 shares in the company, valued at approximately $51,265.62. This trade represents a 50.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sunny Sanyal sold 8,749 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total transaction of $98,338.76. Following the completion of the sale, the chief executive officer now owns 190,193 shares of the company’s stock, valued at $2,137,769.32. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VREX. B. Riley upgraded shares of Varex Imaging to a “strong-buy” rating in a research note on Monday, May 12th. Oppenheimer decreased their price target on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th.

Varex Imaging Stock Down 0.1%

Shares of NASDAQ:VREX opened at $7.88 on Friday. The stock has a market cap of $324.66 million, a P/E ratio of -6.73 and a beta of 0.62. The firm has a fifty day moving average price of $9.36 and a 200 day moving average price of $12.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.36 and a quick ratio of 2.50. Varex Imaging Co. has a 1-year low of $6.76 and a 1-year high of $16.93.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.14 by $0.12. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. The company had revenue of $212.90 million during the quarter, compared to analysts’ expectations of $206.76 million. During the same quarter last year, the business earned $0.16 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Varex Imaging Co. will post 0.53 EPS for the current 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.