Texas Permanent School Fund Corp Boosts Position in Varex Imaging Co. (NASDAQ:VREX)

Texas Permanent School Fund Corp lifted its position in Varex Imaging Co. (NASDAQ:VREX) by 27.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,696 shares of the company’s stock after purchasing an additional 9,598 shares during the quarter. Texas Permanent School Fund Corp owned about 0.11% of Varex Imaging worth $658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VREX. Innealta Capital LLC purchased a new stake in shares of Varex Imaging in the 2nd quarter valued at approximately $26,000. Quest Partners LLC acquired a new stake in Varex Imaging during the fourth quarter worth $30,000. Pacific Center for Financial Services acquired a new position in shares of Varex Imaging in the 1st quarter valued at $94,000. Inspire Advisors LLC purchased a new position in shares of Varex Imaging during the 1st quarter worth $184,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Varex Imaging during the 1st quarter worth about $207,000.

Analysts Set New Price Targets

Separately, B. Riley began coverage on shares of Varex Imaging in a report on Friday, August 23rd. They issued a “buy” rating and a $21.00 price objective on the stock.

Varex Imaging Price Performance

VREX opened at $10.79 on Friday. The firm has a market cap of $441.31 million, a price-to-earnings ratio of 12.12 and a beta of 0.56. The company has a current ratio of 3.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average price is $12.56 and its 200 day moving average price is $14.86. Varex Imaging Co. has a 12-month low of $10.19 and a 12-month high of $21.50.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $209.00 million during the quarter, compared to analyst estimates of $209.50 million. Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. As a group, sell-side analysts expect that Varex Imaging Co. will post 0.46 earnings per share for the current year.

Insider Activity

In related news, SVP Kimberley E. Honeysett sold 2,578 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.53, for a total transaction of $32,302.34. Following the completion of the transaction, the senior vice president now directly owns 275 shares of the company’s stock, valued at approximately $3,445.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Kimberley E. Honeysett sold 2,578 shares of Varex Imaging stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $12.53, for a total value of $32,302.34. Following the completion of the transaction, the senior vice president now owns 275 shares in the company, valued at $3,445.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shubham Maheshwari acquired 10,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $10.82 per share, for a total transaction of $108,200.00. Following the completion of the transaction, the chief financial officer now owns 56,063 shares in the company, valued at approximately $606,601.66. The disclosure for this purchase can be found here. Insiders own 5.20% of the company’s stock.

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.