Varex Imaging Co. (NASDAQ:VREX) Short Interest Down 17.4% in September

Varex Imaging Co. (NASDAQ:VREX) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,470,000 shares, a drop of 17.4% from the August 31st total of 2,990,000 shares. Based on an average daily volume of 679,000 shares, the days-to-cover ratio is presently 3.6 days.

Insider Transactions at Varex Imaging

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

Institutional Trading of Varex Imaging

Institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in Varex Imaging in the 2nd quarter valued at $26,000. Quest Partners LLC purchased a new position in Varex Imaging during the fourth quarter valued at $30,000. Canada Pension Plan Investment Board acquired a new stake in shares of Varex Imaging in the second quarter valued at about $38,000. Pacific Center for Financial Services purchased a new stake in shares of Varex Imaging during the first quarter worth about $94,000. Finally, Inspire Advisors LLC acquired a new position in shares of Varex Imaging during the 1st quarter worth about $184,000.

Analyst Upgrades and Downgrades

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

Varex Imaging Stock Performance

Shares of NASDAQ VREX opened at $11.92 on Friday. Varex Imaging has a 1 year low of $10.19 and a 1 year high of $21.50. 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 company’s fifty day moving average price is $12.27 and its 200 day moving average price is $14.68. The company has a market capitalization of $487.53 million, a PE ratio of 13.39 and a beta of 0.56.

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

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.