Bank of New York Mellon Corp Lowers Position in Varex Imaging Co. (NASDAQ:VREX)

Bank of New York Mellon Corp trimmed its stake in shares of Varex Imaging Co. (NASDAQ:VREX) by 0.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 341,873 shares of the company’s stock after selling 2,937 shares during the period. Bank of New York Mellon Corp’s holdings in Varex Imaging were worth $5,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of VREX. Pzena Investment Management LLC boosted its holdings in shares of Varex Imaging by 68.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,815,759 shares of the company’s stock valued at $32,865,000 after purchasing an additional 739,224 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Varex Imaging by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,519,686 shares of the company’s stock valued at $51,654,000 after buying an additional 145,968 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Varex Imaging by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 165,103 shares of the company’s stock valued at $2,432,000 after buying an additional 122,488 shares in the last quarter. Isthmus Partners LLC increased its stake in Varex Imaging by 71.2% in the 1st quarter. Isthmus Partners LLC now owns 169,964 shares of the company’s stock worth $3,076,000 after acquiring an additional 70,684 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Varex Imaging by 178.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 105,784 shares of the company’s stock worth $1,915,000 after acquiring an additional 67,811 shares in the last quarter.

Insider Buying and Selling at Varex Imaging

In other news, SVP Kimberley E. Honeysett sold 2,578 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $12.53, for a total value of $32,302.34. Following the completion of the sale, the senior vice president now owns 275 shares in the company, valued at approximately $3,445.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kimberley E. Honeysett sold 2,578 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.53, for a total transaction of $32,302.34. Following the completion of the transaction, the senior vice president now owns 275 shares in the company, valued at approximately $3,445.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Shubham Maheshwari acquired 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $10.82 per share, for a total transaction of $108,200.00. Following the transaction, the chief financial officer now directly owns 56,063 shares in the company, valued at $606,601.66. The disclosure for this purchase can be found here. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

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

Varex Imaging Stock Up 3.0 %

Shares of NASDAQ:VREX opened at $11.82 on Friday. The company has a market cap of $483.44 million, a price-to-earnings ratio of 13.28 and a beta of 0.56. Varex Imaging Co. has a 12 month low of $10.19 and a 12 month high of $21.50. The company has a current ratio of 3.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $12.89 and a 200 day moving average price of $15.09.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $209.00 million during the quarter, compared to the consensus estimate of $209.50 million. Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. 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 business earned $0.37 earnings per share. As a group, equities research analysts predict that Varex Imaging Co. will post 0.46 earnings per share for the current year.

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.