SFE Investment Counsel Lowers Stake in Varex Imaging (VREX)
SFE Investment Counsel reduced its stake in shares of Varex Imaging (NASDAQ:VREX) by 22.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,552 shares of the company’s stock after selling 11,555 shares during the period. SFE Investment Counsel owned approximately 0.11% of Varex Imaging worth $1,372,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Security National Trust Co. purchased a new position in Varex Imaging in the second quarter valued at $108,000. Ameritas Investment Partners Inc. purchased a new position in Varex Imaging in the second quarter valued at $112,000. Howard Hughes Medical Institute purchased a new position in Varex Imaging in the second quarter valued at $134,000. Oppenheimer Asset Management Inc. purchased a new position in Varex Imaging in the second quarter valued at $136,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Varex Imaging during the second quarter worth about $147,000. Institutional investors own 92.20% of the company’s stock.
Varex Imaging (NASDAQ VREX) traded up $0.21 during trading hours on Monday, reaching $34.71. 5,062 shares of the company’s stock traded hands, compared to its average volume of 149,927. The company has a current ratio of 3.30, a quick ratio of 1.63 and a debt-to-equity ratio of 1.33. Varex Imaging has a 12 month low of $25.00 and a 12 month high of $36.58.
Varex Imaging (NASDAQ:VREX) last posted its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $179.05 million. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. equities analysts expect that Varex Imaging will post 1.75 EPS for the current fiscal year.
Several analysts recently issued reports on VREX shares. Zacks Investment Research raised shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 5th. J P Morgan Chase & Co cut shares of Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC started coverage on shares of Varex Imaging in a research note on Wednesday, August 9th. They set a “buy” rating and a $34.00 price objective for the company.
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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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