Deerfield Management Company L.P. Series C Buys Shares of 65,893 Varex Imaging Co. (NASDAQ:VREX)

Deerfield Management Company L.P. Series C purchased a new position in shares of Varex Imaging Co. (NASDAQ:VREX) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 65,893 shares of the company’s stock, valued at approximately $971,000.

Other hedge funds have also recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Varex Imaging in the 4th quarter valued at approximately $30,000. Innealta Capital LLC acquired a new stake in Varex Imaging in the second quarter valued at $26,000. Isthmus Partners LLC grew its stake in shares of Varex Imaging by 1.2% during the 2nd quarter. Isthmus Partners LLC now owns 172,022 shares of the company’s stock worth $2,534,000 after purchasing an additional 2,058 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Varex Imaging by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 359,937 shares of the company’s stock valued at $5,302,000 after purchasing an additional 2,250 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Varex Imaging by 6.6% during the fourth quarter. BNP Paribas Financial Markets now owns 36,845 shares of the company’s stock worth $755,000 after buying an additional 2,274 shares in the last quarter.

Insider Activity

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

Varex Imaging Trading Up 1.5 %

NASDAQ:VREX opened at $11.80 on Friday. The company has a market capitalization of $482.62 million, a PE ratio of 13.26 and a beta of 0.56. Varex Imaging Co. has a 52-week low of $10.19 and a 52-week high of $21.50. The stock has a fifty day simple moving average of $12.37 and a 200-day simple moving average of $14.74. The company has a quick ratio of 1.89, a current ratio of 3.34 and a debt-to-equity ratio of 0.67.

Varex Imaging (NASDAQ:VREX) last released its quarterly 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. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts expect that Varex Imaging Co. will post 0.46 earnings per share for the current fiscal year.

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 target price for the company.

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.