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

Sei Investments Co. lifted its stake in Varex Imaging Co. (NASDAQ:VREX) by 12.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 47,863 shares of the company’s stock after acquiring an additional 5,342 shares during the period. Sei Investments Co.’s holdings in Varex Imaging were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of VREX. Canada Pension Plan Investment Board bought a new stake in Varex Imaging during the second quarter valued at about $38,000. Intech Investment Management LLC bought a new position in shares of Varex Imaging during the 2nd quarter valued at approximately $211,000. First Eagle Investment Management LLC increased its holdings in Varex Imaging by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 359,937 shares of the company’s stock worth $5,302,000 after acquiring an additional 2,250 shares in the last quarter. WINTON GROUP Ltd raised its stake in Varex Imaging by 37.7% during the 2nd quarter. WINTON GROUP Ltd now owns 61,316 shares of the company’s stock worth $903,000 after acquiring an additional 16,797 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Varex Imaging by 13.1% during the second quarter. American Century Companies Inc. now owns 38,915 shares of the company’s stock valued at $573,000 after purchasing an additional 4,509 shares in the last quarter.

Insider Activity

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

Analyst Upgrades and Downgrades

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

Varex Imaging Price Performance

NASDAQ:VREX opened at $11.28 on Wednesday. The stock has a market cap of $461.35 million, a PE ratio of 12.67 and a beta of 0.55. The company has a quick ratio of 1.89, a current ratio of 3.34 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $11.92 and its two-hundred day simple moving average is $14.39. Varex Imaging Co. has a 52 week low of $10.19 and a 52 week high of $21.50.

Varex Imaging (NASDAQ:VREX) last issued 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). Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. The business 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 posted $0.37 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. As a group, analysts forecast that Varex Imaging Co. will post 0.46 EPS for the current fiscal year.

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.