Varex Imaging Co. (NASDAQ:VREX) Short Interest Down 17.4% in February

Varex Imaging Co. (NASDAQ:VREX) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 966,300 shares, a drop of 17.4% from the February 13th total of 1,170,000 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average trading volume of 511,600 shares, the short-interest ratio is currently 1.9 days.

Varex Imaging Price Performance

Shares of NASDAQ VREX opened at $12.82 on Tuesday. Varex Imaging has a twelve month low of $10.19 and a twelve month high of $18.30. The firm has a fifty day simple moving average of $13.35 and a 200 day simple moving average of $13.42. The company has a market capitalization of $528.18 million, a PE ratio of -10.96 and a beta of 0.56. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. On average, sell-side analysts forecast that Varex Imaging will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Varex Imaging

Large investors have recently bought and sold shares of the stock. Aquatic Capital Management LLC acquired a new stake in Varex Imaging in the fourth quarter worth $25,000. Quest Partners LLC acquired a new stake in Varex Imaging in the third quarter worth $41,000. Quadrant Capital Group LLC grew its holdings in Varex Imaging by 115.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock worth $41,000 after purchasing an additional 1,520 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Varex Imaging in the fourth quarter worth $48,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Varex Imaging in the fourth quarter worth $98,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on VREX shares. StockNews.com raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. B. Riley reaffirmed a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a research note on Friday, February 7th. Finally, Oppenheimer lowered their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research note 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.