Black Creek Investment Management Inc. Invests $27.29 Million in VAREX IMAGING (VREX)
Black Creek Investment Management Inc. purchased a new position in VAREX IMAGING (NASDAQ:VREX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 807,447 shares of the company’s stock, valued at approximately $27,292,000. VAREX IMAGING accounts for about 1.4% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 18th biggest position. Black Creek Investment Management Inc. owned approximately 2.15% of VAREX IMAGING at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Hussman Strategic Advisors Inc. purchased a new position in VAREX IMAGING in the second quarter valued at approximately $147,000. Independent Order of Foresters bought a new position in VAREX IMAGING during the second quarter valued at $243,000. Seaward Management Limited Partnership bought a new position in VAREX IMAGING during the second quarter valued at $213,000. Schwab Charles Investment Management Inc. bought a new position in VAREX IMAGING during the second quarter valued at $5,349,000. Finally, Foundry Partners LLC bought a new position in VAREX IMAGING during the second quarter valued at $455,000. 91.72% of the stock is currently owned by institutional investors.
VAREX IMAGING (NASDAQ:VREX) traded up 0.98% during midday trading on Monday, reaching $34.17. 48,741 shares of the company’s stock traded hands. The stock has a market cap of $1.29 billion and a PE ratio of 21.86. VAREX IMAGING has a one year low of $25.00 and a one year high of $36.58. The stock’s 50 day moving average price is $30.08 and its 200-day moving average price is $32.62.
VAREX IMAGING (NASDAQ:VREX) last announced its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $179.05 million. VAREX IMAGING’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts predict that VAREX IMAGING will post $1.75 earnings per share for the current year.
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A number of analysts have issued reports on the company. Zacks Investment Research raised VAREX IMAGING from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, June 22nd. J P Morgan Chase & Co raised VAREX IMAGING from an “underweight” rating to a “neutral” rating and set a $33.00 price target on the stock in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC assumed coverage on VAREX IMAGING in a research report on Wednesday, August 9th. They set a “buy” rating and a $34.00 price target on the stock.
VAREX IMAGING Profile
Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.
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