Allspring Global Investments Holdings LLC Lowers Holdings in Varex Imaging Co. (NASDAQ:VREX)

Allspring Global Investments Holdings LLC lowered its position in shares of Varex Imaging Co. (NASDAQ:VREX) by 6.2% in the first quarter, Holdings Channel reports. The institutional investor owned 2,845,541 shares of the company’s stock after selling 187,722 shares during the period. Allspring Global Investments Holdings LLC owned 0.07% of Varex Imaging worth $51,504,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in VREX. Quest Partners LLC purchased a new position in Varex Imaging during the fourth quarter worth about $30,000. Federated Hermes Inc. raised its stake in shares of Varex Imaging by 216.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after buying an additional 1,218 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Varex Imaging in the 4th quarter valued at approximately $53,000. Jump Financial LLC purchased a new stake in shares of Varex Imaging in the fourth quarter valued at approximately $214,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Varex Imaging during the fourth quarter worth $294,000.

Varex Imaging Stock Up 2.0 %

VREX stock opened at $14.58 on Wednesday. The company has a current ratio of 4.23, a quick ratio of 2.37 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $15.38 and its 200 day moving average price is $17.38. Varex Imaging Co. has a 52 week low of $14.09 and a 52 week high of $23.87. The company has a market cap of $596.32 million, a P/E ratio of 16.38, a P/E/G ratio of 3.24 and a beta of 0.59.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). Varex Imaging had a return on equity of 8.26% and a net margin of 4.90%. The firm had revenue of $206.20 million for the quarter, compared to analysts’ expectations of $205.15 million. During the same period last year, the firm earned $0.26 EPS. Varex Imaging’s revenue was down 9.6% compared to the same quarter last year. On average, research analysts expect that Varex Imaging Co. will post 0.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

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.