Varex Imaging Co. (NASDAQ:VREX) Sees Significant Decline in Short Interest

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 3,470,000 shares, a decline of 20.4% from the June 15th total of 4,360,000 shares. Based on an average daily volume of 445,600 shares, the short-interest ratio is currently 7.8 days.

Varex Imaging Stock Down 2.0 %

VREX stock opened at $14.55 on Friday. The firm has a 50-day moving average price of $15.03 and a 200-day moving average price of $17.09. Varex Imaging has a 12 month low of $13.97 and a 12 month high of $23.62. The company has a current ratio of 4.23, a quick ratio of 2.37 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $595.10 million, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 3.26 and a beta of 0.59.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $206.20 million during the quarter, compared to the consensus estimate of $205.15 million. Varex Imaging had a net margin of 4.90% and a return on equity of 8.26%. Varex Imaging’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. As a group, equities research analysts anticipate that Varex Imaging will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Institutional Investors Weigh In On Varex Imaging

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Varex Imaging during the fourth quarter valued at about $20,481,000. Pzena Investment Management LLC grew its holdings in Varex Imaging by 68.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,815,759 shares of the company’s stock worth $32,865,000 after acquiring an additional 739,224 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Varex Imaging by 99.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 338,876 shares of the company’s stock valued at $6,947,000 after acquiring an additional 168,644 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Varex Imaging by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,519,686 shares of the company’s stock valued at $51,654,000 after acquiring an additional 145,968 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Varex Imaging by 287.4% during the second 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.

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.