2,559,215 Varex Imaging $VREX Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its stake in shares of Varex Imaging (NASDAQ:VREX) by 58.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,785,166 shares of the company’s stock after selling 2,559,215 shares during the quarter. Pzena Investment Management LLC’s holdings in Varex Imaging were worth $32,936,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Varex Imaging by 65.4% in the third quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock worth $31,000 after buying an additional 655 shares during the last quarter. SG Americas Securities LLC grew its holdings in Varex Imaging by 4.4% during the first quarter. SG Americas Securities LLC now owns 30,202 shares of the company’s stock worth $320,000 after acquiring an additional 1,272 shares during the period. Glenmede Trust Co. NA raised its position in Varex Imaging by 15.5% during the first quarter. Glenmede Trust Co. NA now owns 14,202 shares of the company’s stock valued at $151,000 after acquiring an additional 1,909 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Varex Imaging by 177.0% in the third quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock valued at $66,000 after acquiring an additional 2,274 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Varex Imaging by 5.2% in the fourth quarter. Hsbc Holdings PLC now owns 46,283 shares of the company’s stock valued at $544,000 after acquiring an additional 2,298 shares during the period.

Varex Imaging Trading Down 0.1%

Shares of Varex Imaging stock opened at $18.51 on Thursday. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. Varex Imaging has a twelve month low of $9.09 and a twelve month high of $18.63. The firm has a market capitalization of $785.99 million, a PE ratio of 35.60 and a beta of 1.02. The firm’s 50-day moving average price is $18.46 and its 200 day moving average price is $13.69.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. The firm had revenue of $210.50 million for the quarter, compared to analyst estimates of $215.50 million. On average, sell-side analysts predict that Varex Imaging will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Shubham Maheshwari sold 130,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $18.46, for a total transaction of $2,399,800.00. Following the completion of the sale, the chief financial officer owned 139,972 shares of the company’s stock, valued at $2,583,883.12. This represents a 48.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jay K. Kunkel sold 8,121 shares of the stock in a transaction dated 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 sale, the director owned 15,329 shares of the company’s stock, valued at $283,279.92. This trade represents a 34.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings raised shares of Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Sidoti downgraded shares of Varex Imaging from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. 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 research report on Monday, August 10th. Oppenheimer downgraded shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Finally, CJS Securities cut Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Seven equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Varex Imaging currently has a consensus rating of “Hold” and a consensus target price of $16.88.

About Varex Imaging

Varex Imaging Corporation develops and manufactures X-ray imaging components used in medical, industrial, and security applications. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, baggage inspection, cargo screening, and other imaging processes.

The company’s product portfolio includes X-ray tubes, digital detectors, image-processing software, high-voltage connectors, and other components for X-ray imaging systems. Varex also provides software and services designed to support image quality, system performance, and equipment integration.

Varex serves equipment manufacturers and other customers worldwide, with applications spanning healthcare, industrial inspection, and security screening.