Varex Imaging Co. (NASDAQ:VREX) Sees Significant Decline in Short Interest

Varex Imaging Co. (NASDAQ:VREX - Get Free Report) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 1,380,000 shares, a decline of 16.9% from the November 30th total of 1,660,000 shares. Based on an average trading volume of 588,500 shares, the days-to-cover ratio is currently 2.3 days.

Varex Imaging Stock Down 1.7 %

NASDAQ VREX traded down $0.25 during midday trading on Friday, hitting $14.82. 340,361 shares of the company traded hands, compared to its average volume of 513,209. The company has a market cap of $611.04 million, a PE ratio of -12.67 and a beta of 0.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. Varex Imaging has a 52 week low of $10.19 and a 52 week high of $21.06. The company's 50-day simple moving average is $14.69 and its 200-day simple moving average is $13.50.

Institutional Investors Weigh In On Varex Imaging

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in Varex Imaging by 4,739.2% in the third quarter. FMR LLC now owns 200,341 shares of the company's stock valued at $2,388,000 after acquiring an additional 196,201 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Varex Imaging by 37.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 185,506 shares of the company's stock worth $2,211,000 after purchasing an additional 50,382 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Varex Imaging during the 3rd quarter worth $415,000. BNP Paribas Financial Markets increased its position in Varex Imaging by 1,359.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,295 shares of the company's stock valued at $623,000 after buying an additional 48,713 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Varex Imaging in the third quarter valued at about $2,593,000.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th.

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.