Ancora Advisors LLC decreased its stake in Varex Imaging Corp (NASDAQ:VREX) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 324,842 shares of the company’s stock after selling 86,322 shares during the period. Ancora Advisors LLC owned about 0.85% of Varex Imaging worth $9,310,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in VREX. GSA Capital Partners LLP bought a new stake in Varex Imaging in the 3rd quarter worth $1,055,000. Stevens Capital Management LP bought a new stake in Varex Imaging in the 3rd quarter worth $269,000. Dimensional Fund Advisors LP grew its holdings in Varex Imaging by 31.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 848,991 shares of the company’s stock worth $24,333,000 after acquiring an additional 203,410 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Varex Imaging in the 3rd quarter worth about $573,000. Finally, FMR LLC lifted its position in shares of Varex Imaging by 465.2% in the 3rd quarter. FMR LLC now owns 1,400,147 shares of the company’s stock worth $40,129,000 after purchasing an additional 1,152,410 shares during the period. 97.14% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on VREX shares. Zacks Investment Research raised shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Varex Imaging in a research report on Thursday, November 15th. TheStreet cut shares of Varex Imaging from a “c-” rating to a “d+” rating in a research report on Friday, October 26th. JPMorgan Chase & Co. dropped their target price on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 14th. Finally, ValuEngine cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.00.
NASDAQ:VREX opened at $26.62 on Friday. Varex Imaging Corp has a 12 month low of $23.91 and a 12 month high of $43.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.00 and a quick ratio of 1.46. The stock has a market capitalization of $940.80 million, a PE ratio of 20.48, a P/E/G ratio of 1.84 and a beta of 1.58.
Varex Imaging (NASDAQ:VREX) last posted its earnings results on Tuesday, November 13th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). Varex Imaging had a return on equity of 11.96% and a net margin of 3.56%. The company had revenue of $204.80 million during the quarter, compared to analysts’ expectations of $192.10 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts forecast that Varex Imaging Corp will post 1.35 earnings per share for the current year.
About Varex Imaging
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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