Allspring Global Investments Holdings LLC Sells 187,722 Shares of Varex Imaging Co. (NASDAQ:VREX)

Allspring Global Investments Holdings LLC trimmed its position in shares of Varex Imaging Co. (NASDAQ:VREX) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,845,541 shares of the company’s stock after selling 187,722 shares during the quarter. Allspring Global Investments Holdings LLC owned about 7.01% of Varex Imaging worth $51,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund grew its stake in shares of Varex Imaging by 3.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 24,105 shares of the company’s stock worth $494,000 after acquiring an additional 832 shares during the last quarter. Federated Hermes Inc. increased its stake in Varex Imaging by 216.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock valued at $33,000 after purchasing an additional 1,218 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Varex Imaging in the fourth quarter worth $30,000. BNP Paribas Financial Markets lifted its stake in shares of Varex Imaging by 6.6% during the fourth quarter. BNP Paribas Financial Markets now owns 36,845 shares of the company’s stock worth $755,000 after buying an additional 2,274 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Varex Imaging by 3.3% during the fourth quarter. Trexquant Investment LP now owns 77,808 shares of the company’s stock worth $1,595,000 after buying an additional 2,522 shares during the period.

Varex Imaging Price Performance

Shares of NASDAQ VREX opened at $14.58 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 4.23 and a debt-to-equity ratio of 0.75. Varex Imaging Co. has a 52 week low of $14.09 and a 52 week high of $23.87. The business’s 50 day moving average price is $15.38 and its 200 day moving average price is $17.38. The firm has a market cap of $596.32 million, a P/E ratio of 16.38, a P/E/G ratio of 3.24 and a beta of 0.59.

Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The business had revenue of $206.20 million for the quarter, compared to analysts’ expectations of $205.15 million. Varex Imaging had a return on equity of 8.26% and a net margin of 4.90%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, sell-side analysts expect that Varex Imaging Co. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Varex Imaging from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

Varex Imaging Company Profile

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.