Insider Selling: Varex Imaging Co. (NASDAQ:VREX) CEO Sells 8,749 Shares of Stock

Varex Imaging Co. (NASDAQ:VREX) CEO Sunny Sanyal sold 8,749 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total transaction of $98,338.76. Following the completion of the sale, the chief executive officer now directly owns 190,193 shares of the company’s stock, valued at approximately $2,137,769.32. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Varex Imaging Stock Performance

Shares of Varex Imaging stock opened at $8.28 on Friday. Varex Imaging Co. has a 52 week low of $7.77 and a 52 week high of $18.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.50 and a current ratio of 4.36. The stock has a market capitalization of $341.14 million, a price-to-earnings ratio of -7.08 and a beta of 0.65. The firm has a fifty day moving average of $12.80 and a two-hundred day moving average of $13.40.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. As a group, equities research analysts predict that Varex Imaging Co. will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in shares of Varex Imaging during the fourth quarter worth $25,000. Quadrant Capital Group LLC grew its stake in Varex Imaging by 115.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after acquiring an additional 1,520 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Varex Imaging in the fourth quarter worth about $48,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $98,000. Finally, US Bancorp DE lifted its holdings in shares of Varex Imaging by 149.8% during the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock valued at $108,000 after purchasing an additional 4,429 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. B. Riley reiterated a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Varex Imaging in a research report on Friday, February 7th. StockNews.com upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Oppenheimer cut their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th.

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.