StockNews.com lowered shares of Varex Imaging (NASDAQ:VREX - Free Report) from a buy rating to a hold rating in a research note released on Thursday morning.
Varex Imaging Stock Performance
Shares of VREX traded up $0.39 during midday trading on Thursday, hitting $13.99. 371,392 shares of the stock traded hands, compared to its average volume of 388,652. Varex Imaging has a 1-year low of $10.19 and a 1-year high of $19.91. The firm has a market capitalization of $576.81 million, a PE ratio of -11.96 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.97 and a current ratio of 3.32. The business's 50 day moving average price is $14.81 and its two-hundred day moving average price is $13.39.
Hedge Funds Weigh In On Varex Imaging
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Varex Imaging in the third quarter worth about $19,801,000. Pzena Investment Management LLC lifted its holdings in Varex Imaging by 51.4% in the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company's stock worth $46,379,000 after purchasing an additional 1,321,666 shares during the period. Jane Street Group LLC lifted its holdings in Varex Imaging by 230.6% in the third quarter. Jane Street Group LLC now owns 551,157 shares of the company's stock worth $6,570,000 after purchasing an additional 384,448 shares during the period. Weiss Asset Management LP bought a new stake in Varex Imaging in the third quarter worth about $2,593,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Varex Imaging in the third quarter worth about $2,411,000.
Varex Imaging Company Profile
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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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