Prudential Financial Inc. Raises Stake in Varex Imaging Corp (VREX)

Prudential Financial Inc. lifted its stake in shares of Varex Imaging Corp (NASDAQ:VREX) by 39.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,950 shares of the company’s stock after acquiring an additional 34,516 shares during the quarter. Prudential Financial Inc. owned approximately 0.32% of Varex Imaging worth $2,888,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VREX. Whittier Trust Co. increased its stake in shares of Varex Imaging by 2,048.4% during the fourth quarter. Whittier Trust Co. now owns 5,328 shares of the company’s stock worth $126,000 after purchasing an additional 5,080 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Varex Imaging during the fourth quarter worth about $343,000. WINTON GROUP Ltd increased its stake in shares of Varex Imaging by 291.1% during the fourth quarter. WINTON GROUP Ltd now owns 311,730 shares of the company’s stock worth $7,382,000 after purchasing an additional 232,030 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Varex Imaging by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 10,218 shares of the company’s stock worth $242,000 after purchasing an additional 398 shares in the last quarter. Finally, Isthmus Partners LLC increased its stake in shares of Varex Imaging by 14.1% during the fourth quarter. Isthmus Partners LLC now owns 38,245 shares of the company’s stock worth $906,000 after purchasing an additional 4,737 shares in the last quarter. 97.43% of the stock is currently owned by institutional investors and hedge funds.

VREX has been the subject of a number of research reports. Zacks Investment Research cut shares of Varex Imaging from a “hold” rating to a “sell” rating in a research note on Saturday, January 12th. TheStreet raised shares of Varex Imaging from a “d+” rating to a “c-” rating in a research note on Wednesday, January 30th. Finally, Sidoti assumed coverage on shares of Varex Imaging in a research report on Wednesday, January 16th. They set a “buy” rating and a $35.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $32.25.

VREX opened at $32.92 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.65. Varex Imaging Corp has a twelve month low of $21.57 and a twelve month high of $39.39. The company has a current ratio of 2.81, a quick ratio of 1.26 and a debt-to-equity ratio of 0.81.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $185.70 million for the quarter, compared to analyst estimates of $176.73 million. Varex Imaging had a return on equity of 12.10% and a net margin of 2.45%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Equities analysts predict that Varex Imaging Corp will post 1.33 EPS for the current year.

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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 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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Institutional Ownership by Quarter for Varex Imaging (NASDAQ:VREX)

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