Point72 Hong Kong Ltd Invests $48,000 in Varex Imaging Co. (NASDAQ:VREX)

Point72 Hong Kong Ltd bought a new stake in Varex Imaging Co. (NASDAQ:VREX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,266 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Varex Imaging by 10.5% during the 4th quarter. Principal Financial Group Inc. now owns 41,144 shares of the company’s stock valued at $600,000 after purchasing an additional 3,914 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Varex Imaging by 87.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,030 shares of the company’s stock worth $715,000 after buying an additional 22,829 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Varex Imaging during the 4th quarter worth approximately $426,000. Cerity Partners LLC acquired a new stake in shares of Varex Imaging during the 4th quarter worth approximately $147,000. Finally, Savant Capital LLC bought a new stake in shares of Varex Imaging in the 4th quarter valued at $237,000.

Insider Buying and Selling at Varex Imaging

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

Varex Imaging Price Performance

Shares of NASDAQ:VREX opened at $7.88 on Friday. Varex Imaging Co. has a twelve month low of $6.76 and a twelve month high of $16.93. The stock’s 50 day moving average is $9.36 and its 200-day moving average is $12.52. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $324.66 million, a price-to-earnings ratio of -6.73 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share 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 firm had revenue of $212.90 million for the quarter, compared to the consensus estimate of $206.76 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

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