Vanguard Group Inc. Sells 949,893 Shares of Varex Imaging Co. (NASDAQ:VREX)

Vanguard Group Inc. cut its holdings in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,533,715 shares of the company's stock after selling 949,893 shares during the quarter. Vanguard Group Inc. owned about 6.15% of Varex Imaging worth $36,967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VREX. KLP Kapitalforvaltning AS bought a new stake in shares of Varex Imaging during the fourth quarter valued at approximately $98,000. American Century Companies Inc. raised its position in Varex Imaging by 65.9% in the fourth quarter. American Century Companies Inc. now owns 66,402 shares of the company's stock worth $969,000 after purchasing an additional 26,387 shares in the last quarter. Boston Partners acquired a new stake in Varex Imaging during the fourth quarter valued at approximately $8,718,000. Royce & Associates LP raised its holdings in shares of Varex Imaging by 70.4% in 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 buying an additional 22,829 shares in the last quarter.

Analysts Set New Price Targets

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

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Varex Imaging Price Performance

Shares of VREX traded down $0.26 during mid-day trading on Tuesday, hitting $7.63. 454,724 shares of the company traded hands, compared to its average volume of 557,221. The business has a 50-day moving average of $11.84 and a 200 day moving average of $13.22. Varex Imaging Co. has a one year low of $7.30 and a one year high of $17.46. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $314.36 million, a price-to-earnings ratio of -6.52 and a beta of 0.65.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.07 EPS 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%. As a group, equities analysts expect that Varex Imaging Co. will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Varex Imaging

In other news, CEO Sunny Sanyal sold 8,749 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total value of $98,338.76. Following the sale, the chief executive officer now directly owns 190,193 shares in the company, valued at $2,137,769.32. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kimberley E. Honeysett sold 4,007 shares of the stock in a transaction that occurred 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 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. Insiders own 4.30% of the company's stock.

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.