Bank of New York Mellon Corp Has $1.49 Million Stock Position in Varex Imaging (NASDAQ:VREX)

Bank of New York Mellon Corp trimmed its position in Varex Imaging (NASDAQ:VREX) by 11.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 128,254 shares of the company’s stock after selling 16,126 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Varex Imaging worth $1,488,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VREX. American Century Companies Inc. grew its position in shares of Varex Imaging by 65.9% during the 4th quarter. American Century Companies Inc. now owns 66,402 shares of the company’s stock worth $969,000 after buying an additional 26,387 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Varex Imaging during the 4th quarter worth about $98,000. Arrowstreet Capital Limited Partnership grew its position in shares of Varex Imaging by 2,223.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 288,630 shares of the company’s stock worth $4,211,000 after buying an additional 276,207 shares during the period. JB Capital Partners LP acquired a new position in shares of Varex Imaging during the 4th quarter worth about $365,000. Finally, Russell Investments Group Ltd. grew its position in shares of Varex Imaging by 510.7% during the 4th quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company’s stock worth $6,881,000 after buying an additional 394,381 shares during the period.

Varex Imaging Price Performance

Shares of VREX opened at $7.45 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.36 and a current ratio of 4.05. The stock has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $10.05. Varex Imaging has a 52-week low of $6.76 and a 52-week high of $16.93. The firm has a market capitalization of $306.94 million, a PE ratio of -7.23 and a beta of 0.70.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. Varex Imaging had a positive return on equity of 4.91% and a negative net margin of 5.08%. The business had revenue of $212.90 million during the quarter, compared to analyst estimates of $206.76 million. During the same period in the previous year, the firm earned $0.16 EPS. Varex Imaging’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Varex Imaging will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. B. Riley upgraded Varex Imaging to a “strong-buy” rating in a research report on Monday, May 12th. Wall Street Zen upgraded Varex Imaging from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 5th.

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 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.