Insider Selling: Varex Imaging Co. (NASDAQ:VREX) CEO Sells 8,749 Shares of Stock

Varex Imaging Co. (NASDAQ:VREX - Get Free Report) CEO Sunny Sanyal sold 8,749 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 190,193 shares of the company's stock, valued at approximately $2,137,769.32. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Varex Imaging Stock Performance

Shares of VREX traded down $0.06 during midday trading on Tuesday, reaching $7.46. The stock had a trading volume of 688,888 shares, compared to its average volume of 548,849. The firm has a market cap of $307.35 million, a PE ratio of -6.38 and a beta of 0.65. The firm has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $13.35. Varex Imaging Co. has a one year low of $7.33 and a one year high of $18.17. 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 (NASDAQ:VREX - Get Free Report) last posted its quarterly earnings results 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, sell-side analysts anticipate that Varex Imaging Co. will post 0.53 EPS for the current year.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VREX. StockNews.com upgraded Varex Imaging from a "hold" rating to a "buy" rating in a report on Friday, February 7th. B. Riley reissued a "buy" rating and set a $22.00 price target (up from $21.00) on shares of Varex Imaging in a research report on Friday, February 7th. Finally, Oppenheimer lowered 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.

Hedge Funds Weigh In On Varex Imaging

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of Varex Imaging by 4,739.2% during the 3rd quarter. FMR LLC now owns 200,341 shares of the company's stock worth $2,388,000 after buying an additional 196,201 shares during the last quarter. Barclays PLC lifted its position in Varex Imaging by 15.3% during the third quarter. Barclays PLC now owns 97,883 shares of the company's stock worth $1,166,000 after acquiring an additional 12,966 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Varex Imaging during the third quarter worth approximately $415,000. BNP Paribas Financial Markets grew its position in shares of Varex Imaging by 1,359.9% in the third quarter. BNP Paribas Financial Markets now owns 52,295 shares of the company's stock valued at $623,000 after purchasing an additional 48,713 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Varex Imaging in the third quarter valued at approximately $2,593,000.

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.