Short Interest in Varex Imaging Co. (NASDAQ:VREX) Decreases By 39.3%

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,500,000 shares, a decrease of 39.3% from the September 15th total of 2,470,000 shares. Based on an average daily trading volume, of 675,200 shares, the short-interest ratio is presently 2.2 days.

Insider Activity at Varex Imaging

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

Institutional Trading of Varex Imaging

Institutional investors 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. 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 bought a new stake in Varex Imaging during the first quarter worth about $94,000. CWM LLC boosted its position in Varex Imaging by 2,384.2% during the third quarter. CWM LLC now owns 9,589 shares of the company’s stock valued at $114,000 after purchasing an additional 9,203 shares during the last quarter. Finally, Inspire Advisors LLC bought a new position in Varex Imaging in the first quarter valued at approximately $184,000.

Wall Street Analysts Forecast Growth

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

Varex Imaging Stock Up 1.7 %

VREX stock traded up $0.19 during mid-day trading on Friday, hitting $11.42. 329,889 shares of the company were exchanged, compared to its average volume of 1,022,499. The firm has a market cap of $467.08 million, a P/E ratio of 12.83 and a beta of 0.55. 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 firm’s 50 day simple moving average is $11.68 and its 200 day simple moving average is $14.25.

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