Varex Imaging (NASDAQ:VREX) Director Sells $150,076.08 in Stock

Varex Imaging (NASDAQ:VREX) Director Jay Kunkel sold 8,121 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $18.48, for a total transaction of $150,076.08. Following the completion of the transaction, the director owned 15,329 shares of the company’s stock, valued at approximately $283,279.92. This trade represents a 34.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Varex Imaging Trading Up 0.4%

VREX opened at $18.54 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. Varex Imaging has a fifty-two week low of $9.09 and a fifty-two week high of $18.63. The company’s 50 day moving average price is $15.42 and its two-hundred day moving average price is $12.47. The firm has a market capitalization of $780.53 million, a price-to-earnings ratio of 35.65 and a beta of 0.96.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $215.50 million. As a group, research analysts predict that Varex Imaging will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Varex Imaging

Hedge funds have recently added to or reduced their stakes in the business. Pzena Investment Management LLC acquired a new position in shares of Varex Imaging during the second quarter valued at about $45,312,000. BlackRock Inc. bought a new position in shares of Varex Imaging during the 2nd quarter worth about $40,624,000. Rice Hall James & Associates LLC acquired a new stake in shares of Varex Imaging in the 2nd quarter valued at about $15,080,000. LSV Asset Management grew its stake in shares of Varex Imaging by 210.7% in the 4th quarter. LSV Asset Management now owns 1,244,329 shares of the company’s stock valued at $14,496,000 after buying an additional 843,805 shares during the period. Finally, J. Goldman & Co LP acquired a new stake in shares of Varex Imaging in the 2nd quarter valued at about $6,215,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Oppenheimer lowered Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Sidoti reiterated a “neutral” rating and issued a $19.00 target price on shares of Varex Imaging in a report on Monday, August 10th. B. Riley Financial lowered shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. CJS Securities lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 26th. Seven research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.88.

About Varex Imaging

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.

The company’s portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.

Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.