Hancock Whitney Corp Cuts Stake in Varex Imaging Co. (NASDAQ:VREX)

Hancock Whitney Corp lessened its holdings in Varex Imaging Co. (NASDAQ:VREX) by 13.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,134 shares of the company’s stock after selling 2,200 shares during the period. Hancock Whitney Corp’s holdings in Varex Imaging were worth $208,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in Varex Imaging by 424.3% in the first quarter. Russell Investments Group Ltd. now owns 81,847 shares of the company’s stock valued at $1,481,000 after purchasing an additional 66,235 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Varex Imaging by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 165,103 shares of the company’s stock worth $2,432,000 after buying an additional 122,488 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Varex Imaging by 11.8% during the first quarter. First Eagle Investment Management LLC now owns 357,687 shares of the company’s stock worth $6,474,000 after buying an additional 37,800 shares during the period. Empowered Funds LLC acquired a new stake in Varex Imaging in the first quarter valued at approximately $734,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Varex Imaging by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 529,243 shares of the company’s stock worth $10,849,000 after acquiring an additional 26,411 shares during the last quarter.

Varex Imaging Price Performance

Shares of NASDAQ VREX opened at $11.09 on Wednesday. The stock’s 50-day simple moving average is $12.43 and its 200-day simple moving average is $14.76. The firm has a market capitalization of $453.58 million, a PE ratio of 12.46 and a beta of 0.56. Varex Imaging Co. has a fifty-two week low of $10.19 and a fifty-two week 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.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $209.00 million for the quarter, compared to analysts’ expectations of $209.50 million. Varex Imaging had a return on equity of 6.11% and a net margin of 4.11%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. As a group, equities research analysts forecast that Varex Imaging Co. will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling at Varex Imaging

In other news, SVP Kimberley E. Honeysett sold 2,578 shares of Varex Imaging stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $12.53, for a total transaction of $32,302.34. Following the sale, the senior vice president now owns 275 shares in the company, valued at $3,445.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Varex Imaging news, CFO Shubham Maheshwari purchased 9,007 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $10.98 per share, for a total transaction of $98,896.86. Following the purchase, the chief financial officer now directly owns 46,063 shares in the company, valued at $505,771.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kimberley E. Honeysett sold 2,578 shares of Varex Imaging stock in a transaction 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 completion of the transaction, the senior vice president now owns 275 shares in the company, valued at $3,445.75. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Varex Imaging 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.