Varex Imaging Corp (VREX) SVP Brian W. Giambattista Sells 572 Shares

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Varex Imaging Corp (NASDAQ:VREX) SVP Brian W. Giambattista sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $28.65, for a total value of $16,387.80. Following the transaction, the senior vice president now owns 863 shares of the company’s stock, valued at $24,724.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of NASDAQ:VREX traded down $0.72 during mid-day trading on Friday, reaching $28.27. 174,842 shares of the company traded hands, compared to its average volume of 393,242. The company has a market cap of $1.08 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.58. The company has a current ratio of 2.80, a quick ratio of 1.13 and a debt-to-equity ratio of 0.73. Varex Imaging Corp has a 52 week low of $21.57 and a 52 week high of $39.39.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The company had revenue of $195.80 million during the quarter, compared to the consensus estimate of $194.76 million. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that Varex Imaging Corp will post 1.33 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. First Hawaiian Bank boosted its stake in Varex Imaging by 31,725.5% in the 4th quarter. First Hawaiian Bank now owns 14,958 shares of the company’s stock worth $354,000 after purchasing an additional 14,911 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Varex Imaging in the 4th quarter worth approximately $71,000. WINTON GROUP Ltd boosted its stake in Varex Imaging by 291.1% in the 4th quarter. WINTON GROUP Ltd now owns 311,730 shares of the company’s stock worth $7,382,000 after purchasing an additional 232,030 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Varex Imaging by 62.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock worth $44,000 after purchasing an additional 712 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in Varex Imaging by 9.8% in the 4th quarter. Commonwealth Bank of Australia now owns 1,339,138 shares of the company’s stock worth $31,708,000 after purchasing an additional 119,816 shares during the period. Institutional investors and hedge funds own 99.07% of the company’s stock.

A number of research analysts recently issued reports on the company. Northland Securities assumed coverage on Varex Imaging in a research note on Tuesday, March 19th. They set an “outperform” rating and a $42.00 price objective for the company. Zacks Investment Research upgraded Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Saturday, May 11th. Finally, TheStreet upgraded Varex Imaging from a “d+” rating to a “c-” rating in a research note on Wednesday, January 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.60.

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About Varex Imaging

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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