Sei Investments Co. Increases Stock Position in Varex Imaging Co. (NASDAQ:VREX)

Sei Investments Co. grew its holdings in shares of Varex Imaging Co. (NASDAQ:VREX) by 12.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,863 shares of the company’s stock after buying an additional 5,342 shares during the period. Sei Investments Co. owned 0.12% of Varex Imaging worth $705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VREX. Innealta Capital LLC purchased a new position in Varex Imaging during the 2nd quarter valued at about $26,000. Canada Pension Plan Investment Board purchased a new position in shares of Varex Imaging during the second quarter valued at approximately $38,000. Pacific Center for Financial Services bought a new stake in shares of Varex Imaging in the 1st quarter worth approximately $94,000. Inspire Advisors LLC purchased a new stake in shares of Varex Imaging in the 1st quarter worth approximately $184,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Varex Imaging during the 1st quarter valued at approximately $207,000.

Varex Imaging Stock Up 0.4 %

NASDAQ:VREX opened at $11.28 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.89 and a current ratio of 3.34. The firm has a market cap of $461.35 million, a P/E ratio of 12.67 and a beta of 0.55. Varex Imaging Co. has a fifty-two week low of $10.19 and a fifty-two week high of $21.50. The firm has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $14.39.

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

Insiders Place Their Bets

In other news, SVP Kimberley E. Honeysett sold 2,578 shares of the company’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 transaction, the senior vice president now directly owns 275 shares of the company’s stock, valued at $3,445.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Shubham Maheshwari bought 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $10.82 per share, with a total value of $108,200.00. Following the transaction, the chief financial officer now owns 56,063 shares in the company, valued at approximately $606,601.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kimberley E. Honeysett sold 2,578 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.53, for a total transaction of $32,302.34. Following the sale, the senior vice president now owns 275 shares of the company’s stock, valued at approximately $3,445.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on Varex Imaging in a research note on Friday, August 23rd. They set a “buy” rating and a $21.00 price objective for the company.

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.