Bank of New York Mellon Corp lessened its holdings in Varex Imaging Co. (NASDAQ:VREX – Free Report) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 362,220 shares of the company’s stock after selling 7,187 shares during the period. Bank of New York Mellon Corp owned approximately 0.90% of Varex Imaging worth $8,538,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Jackson Creek Investment Advisors LLC acquired a new position in Varex Imaging in the second quarter worth about $948,000. LPL Financial LLC acquired a new stake in shares of Varex Imaging during the second quarter worth approximately $1,079,000. Assenagon Asset Management S.A. increased its holdings in shares of Varex Imaging by 1.9% during the second quarter. Assenagon Asset Management S.A. now owns 239,063 shares of the company’s stock worth $5,635,000 after buying an additional 4,487 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Varex Imaging by 13.4% during the second quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the company’s stock worth $500,000 after buying an additional 2,500 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Varex Imaging during the second quarter worth approximately $126,000.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on VREX shares. StockNews.com raised shares of Varex Imaging from a “buy” rating to a “strong-buy” rating in a report on Wednesday. TheStreet cut shares of Varex Imaging from a “b-” rating to a “c+” rating in a research note on Wednesday, October 25th. Finally, Oppenheimer decreased their price target on shares of Varex Imaging from $42.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday.
Varex Imaging Price Performance
VREX opened at $18.99 on Friday. Varex Imaging Co. has a one year low of $17.05 and a one year high of $23.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.04 and a quick ratio of 2.15. The company’s 50 day simple moving average is $18.54 and its 200-day simple moving average is $20.76. The stock has a market capitalization of $767.20 million, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 0.64 and a beta of 0.81.
Varex Imaging (NASDAQ:VREX – Get Free Report) last announced its quarterly earnings data on Tuesday, November 14th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Varex Imaging had a net margin of 5.40% and a return on equity of 9.60%. The firm had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $233.38 million. During the same period last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Varex Imaging Co. will post 1.34 earnings per share for the current fiscal year.
Varex Imaging 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, high voltage connectors, image-processing software and workstations, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys.
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