Varex Imaging (NASDAQ:VREX) Downgraded to Hold Rating by StockNews.com

Varex Imaging (NASDAQ:VREX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Varex Imaging Stock Down 3.5 %

Varex Imaging stock opened at $13.37 on Thursday. Varex Imaging has a 12 month low of $10.19 and a 12 month high of $21.06. The stock has a market capitalization of $551.26 million, a PE ratio of -11.43 and a beta of 0.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. The business has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $13.47.

Hedge Funds Weigh In On Varex Imaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of Varex Imaging during the second quarter worth about $38,000. Quest Partners LLC acquired a new stake in Varex Imaging in the 3rd quarter worth about $41,000. CWM LLC boosted its holdings in Varex Imaging by 2,384.2% in the 3rd quarter. CWM LLC now owns 9,589 shares of the company’s stock worth $114,000 after buying an additional 9,203 shares during the last quarter. Inspire Advisors LLC increased its stake in Varex Imaging by 29.8% during the 3rd quarter. Inspire Advisors LLC now owns 14,149 shares of the company’s stock worth $169,000 after buying an additional 3,245 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Varex Imaging by 13.7% during the third quarter. Intech Investment Management LLC now owns 16,267 shares of the company’s stock valued at $194,000 after acquiring an additional 1,959 shares during the last quarter.

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.