Bank of New York Mellon Corp Sells 34,842 Shares of Varex Imaging Co. (NASDAQ:VREX)

Bank of New York Mellon Corp cut its stake in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 19.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,380 shares of the company's stock after selling 34,842 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Varex Imaging worth $2,107,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VREX. Wellington Management Group LLP acquired a new stake in Varex Imaging during the 3rd quarter worth about $19,801,000. Jane Street Group LLC raised its holdings in shares of Varex Imaging by 230.6% during the third quarter. Jane Street Group LLC now owns 551,157 shares of the company's stock valued at $6,570,000 after acquiring an additional 384,448 shares during the period. Rice Hall James & Associates LLC lifted its position in shares of Varex Imaging by 240.7% in the 4th quarter. Rice Hall James & Associates LLC now owns 328,692 shares of the company's stock valued at $4,796,000 after acquiring an additional 232,229 shares in the last quarter. Weiss Asset Management LP acquired a new position in Varex Imaging in the 3rd quarter worth approximately $2,593,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Varex Imaging during the 3rd quarter worth approximately $2,411,000.

Varex Imaging Stock Down 1.1 %

VREX stock traded down $0.14 during mid-day trading on Tuesday, hitting $12.31. The stock had a trading volume of 374,231 shares, compared to its average volume of 527,389. The stock has a market capitalization of $507.17 million, a price-to-earnings ratio of -10.52 and a beta of 0.56. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02. Varex Imaging Co. has a 1-year low of $10.19 and a 1-year high of $18.30. The company has a fifty day moving average of $13.26 and a 200 day moving average of $13.44.

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Varex Imaging (NASDAQ:VREX - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. On average, equities analysts expect that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, SVP Kimberley E. Honeysett sold 4,007 shares of the firm'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 transaction, the senior vice president now directly owns 4,002 shares in the company, valued at approximately $51,265.62. This trade represents a 50.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.30% of the company's stock.

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.