Jane Street Group LLC Reduces Position in Varex Imaging Co. (NASDAQ:VREX)

Jane Street Group LLC lessened its stake in shares of Varex Imaging Co. (NASDAQ:VREX) by 75.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 135,202 shares of the company’s stock after selling 415,955 shares during the period. Jane Street Group LLC owned approximately 0.33% of Varex Imaging worth $1,973,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Friday, February 7th. B. Riley raised shares of Varex Imaging to a “strong-buy” rating in a report on Monday, May 12th. 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 report on Friday, February 7th.

Varex Imaging Stock Performance

Shares of NASDAQ VREX opened at $7.88 on Friday. The company’s fifty day moving average price is $9.36 and its 200 day moving average price is $12.53. Varex Imaging Co. has a 1 year low of $6.76 and a 1 year high of $16.93. The company has a market capitalization of $324.66 million, a PE ratio of -6.73 and a beta of 0.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.50 and a current ratio of 4.36.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Varex Imaging Co. will post 0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sunny Sanyal sold 8,749 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total transaction of $98,338.76. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 $51,265.62. This trade represents a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

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.