SG Americas Securities LLC Invests $1.09 Million in Varex Imaging (NASDAQ:VREX)

SG Americas Securities LLC bought a new position in shares of Varex Imaging (NASDAQ:VREX) in the first quarter, HoldingsChannel reports. The firm bought 94,124 shares of the company’s stock, valued at approximately $1,092,000.

Several other hedge funds have also recently bought and sold shares of VREX. Wealthfront Advisers LLC bought a new stake in shares of Varex Imaging in the fourth quarter valued at about $18,900,000. Boston Partners bought a new stake in Varex Imaging in the 4th quarter valued at approximately $8,718,000. Russell Investments Group Ltd. boosted its position in Varex Imaging by 510.7% during the 4th quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company’s stock worth $6,881,000 after acquiring an additional 394,381 shares during the last quarter. Royce & Associates LP grew its stake in shares of Varex Imaging by 70.4% during the 4th quarter. Royce & Associates LP now owns 746,770 shares of the company’s stock worth $10,895,000 after acquiring an additional 308,629 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Varex Imaging by 826.3% in the fourth quarter. LSV Asset Management now owns 326,979 shares of the company’s stock valued at $4,771,000 after purchasing an additional 291,679 shares during the last quarter.

Varex Imaging Stock Performance

Shares of NASDAQ VREX opened at $7.77 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.36 and a current ratio of 4.05. The stock has a 50 day moving average price of $7.98 and a 200 day moving average price of $11.49. The stock has a market capitalization of $320.12 million, a PE ratio of -7.54 and a beta of 0.66. Varex Imaging has a 52 week low of $6.76 and a 52 week high of $16.93.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.12. The company had revenue of $212.90 million for the quarter, compared to analysts’ expectations of $206.76 million. Varex Imaging had a positive return on equity of 4.91% and a negative net margin of 5.08%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Analysts predict that Varex Imaging will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sunny Sanyal sold 8,749 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total value of $98,338.76. Following the completion of the sale, the chief executive officer now directly owns 190,193 shares in the company, valued at approximately $2,137,769.32. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kimberley E. Honeysett sold 4,007 shares of Varex Imaging stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.81, for a total value of $51,329.67. Following the transaction, the senior vice president now owns 4,002 shares of the company’s stock, valued at $51,265.62. The trade was a 50.03% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on VREX shares. Wall Street Zen cut shares of Varex Imaging from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. B. Riley raised shares of Varex Imaging to a “strong-buy” rating in a research report on Monday, May 12th.

About Varex Imaging

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.