Invesco Ltd. Grows Stake in Varex Imaging Co. (NASDAQ:VREX)

Invesco Ltd. boosted its stake in shares of Varex Imaging Co. (NASDAQ:VREX) by 9.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 122,704 shares of the company’s stock after buying an additional 10,086 shares during the period. Invesco Ltd. owned approximately 0.30% of Varex Imaging worth $1,790,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VREX. Barclays PLC lifted its position in shares of Varex Imaging by 15.3% during the third quarter. Barclays PLC now owns 97,883 shares of the company’s stock worth $1,166,000 after purchasing an additional 12,966 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Varex Imaging by 10.5% in the fourth 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 during the period. Geode Capital Management LLC grew its stake in Varex Imaging by 0.5% in the third quarter. Geode Capital Management LLC now owns 929,004 shares of the company’s stock worth $11,076,000 after purchasing an additional 4,211 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 purchasing an additional 22,829 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Varex Imaging during the 4th quarter valued at $426,000.

Varex Imaging Stock Down 1.1 %

Shares of Varex Imaging stock opened at $8.41 on Wednesday. Varex Imaging Co. has a 52-week low of $6.97 and a 52-week high of $17.02. The firm’s 50 day moving average price is $10.61 and its 200-day moving average price is $12.93. 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 company has a market cap of $346.49 million, a P/E ratio of -7.19 and a beta of 0.65.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. On average, sell-side analysts predict that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling at Varex Imaging

In other Varex Imaging news, SVP Kimberley E. Honeysett sold 4,007 shares of the company’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 sale, the senior vice president now directly owns 4,002 shares of the company’s stock, valued at approximately $51,265.62. This represents a 50.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sunny Sanyal sold 8,749 shares of Varex Imaging stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total value of $98,338.76. Following the transaction, the chief executive officer now owns 190,193 shares of the company’s stock, valued at $2,137,769.32. The trade was a 4.40 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VREX. StockNews.com upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. B. Riley restated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a report on Friday, February 7th. Finally, Oppenheimer dropped their price objective on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th.

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.