Millennium Management LLC Decreases Stake in Varex Imaging Co. (NASDAQ:VREX)

Millennium Management LLC lowered its position in shares of Varex Imaging Co. (NASDAQ:VREX) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 597,936 shares of the company’s stock after selling 17,506 shares during the quarter. Millennium Management LLC owned 1.46% of Varex Imaging worth $8,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in Varex Imaging by 424.3% during the first quarter. Russell Investments Group Ltd. now owns 81,847 shares of the company’s stock worth $1,481,000 after acquiring an additional 66,235 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Varex Imaging by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 165,103 shares of the company’s stock worth $2,432,000 after purchasing an additional 122,488 shares during the period. First Eagle Investment Management LLC grew its position in Varex Imaging by 11.8% during the first quarter. First Eagle Investment Management LLC now owns 357,687 shares of the company’s stock valued at $6,474,000 after buying an additional 37,800 shares during the period. Empowered Funds LLC purchased a new stake in Varex Imaging during the first quarter worth about $734,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in Varex Imaging in the second quarter worth about $971,000.

Varex Imaging Stock Up 0.4 %

VREX stock opened at $11.28 on Wednesday. The stock has a fifty day moving average of $11.92 and a 200-day moving average of $14.39. Varex Imaging Co. has a fifty-two week low of $10.19 and a fifty-two week high of $21.50. The company has a market capitalization of $461.35 million, a price-to-earnings ratio of 12.67 and a beta of 0.55. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.89 and a current ratio of 3.34.

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

Insider Buying and Selling

In other Varex Imaging news, 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 $3,445.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Varex Imaging news, SVP Kimberley E. Honeysett sold 2,578 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shubham Maheshwari bought 10,000 shares of Varex Imaging stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $10.82 per share, with a total value of $108,200.00. Following the acquisition, the chief financial officer now directly owns 56,063 shares in the company, valued at approximately $606,601.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on shares of Varex Imaging in a research report on Friday, August 23rd. They set a “buy” rating and a $21.00 target price 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.