Prudential Financial Inc. reduced its position in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 59.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,968 shares of the company's stock after selling 65,193 shares during the period. Prudential Financial Inc. owned about 0.11% of Varex Imaging worth $656,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of Varex Imaging during the third quarter valued at approximately $19,801,000. Wealthfront Advisers LLC acquired a new position in Varex Imaging during the 4th quarter valued at approximately $18,900,000. Geode Capital Management LLC boosted its position in Varex Imaging by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 929,004 shares of the company's stock valued at $11,076,000 after purchasing an additional 4,211 shares during the period. Royce & Associates LP grew its stake in Varex Imaging by 70.4% during the 4th quarter. Royce & Associates LP now owns 746,770 shares of the company's stock worth $10,895,000 after buying an additional 308,629 shares during the last quarter. Finally, Boston Partners acquired a new stake in Varex Imaging in the fourth quarter worth $8,718,000.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on VREX. B. Riley reissued a "buy" rating and set a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a report on Friday, February 7th. Oppenheimer cut their price target on Varex Imaging from $30.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, StockNews.com raised Varex Imaging from a "hold" rating to a "buy" rating in a report on Friday, February 7th.
View Our Latest Stock Report on Varex Imaging
Varex Imaging Price Performance
VREX stock traded up $0.10 during trading on Friday, hitting $7.84. The company had a trading volume of 740,752 shares, compared to its average volume of 556,890. The business has a 50 day moving average of $11.97 and a 200 day moving average of $13.25. The firm has a market capitalization of $323.01 million, a price-to-earnings ratio of -6.70 and a beta of 0.65. 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 fifty-two week low of $7.33 and a fifty-two week high of $17.50.
Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its quarterly earnings results 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 negative net margin of 5.79% and a positive return on equity of 4.00%. As a group, research analysts predict that Varex Imaging Co. will post 0.53 earnings per share for the current year.
Insider Activity
In related news, CEO Sunny Sanyal sold 8,749 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 190,193 shares in the company, valued at approximately $2,137,769.32. This trade represents a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the senior vice president now directly owns 4,002 shares in the company, valued at $51,265.62. This represents a 50.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.
About Varex Imaging
(
Free Report)
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.
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