Renaissance Technologies LLC Has $3.52 Million Stake in Varex Imaging Co. (NASDAQ:VREX)

Renaissance Technologies LLC lowered its holdings in shares of Varex Imaging Co. (NASDAQ:VREX) by 16.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,200 shares of the company’s stock after selling 48,500 shares during the period. Renaissance Technologies LLC owned about 0.58% of Varex Imaging worth $3,523,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in shares of Varex Imaging by 424.3% in the 1st quarter. Russell Investments Group Ltd. now owns 81,847 shares of the company’s stock worth $1,481,000 after buying an additional 66,235 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings 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 grew its position in Varex Imaging by 11.8% during the 1st quarter. First Eagle Investment Management LLC now owns 357,687 shares of the company’s stock worth $6,474,000 after acquiring an additional 37,800 shares during the last quarter. Empowered Funds LLC acquired a new stake in Varex Imaging during the 1st quarter valued at $734,000. Finally, Principal Financial Group Inc. raised its position in Varex Imaging by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 226,410 shares of the company’s stock valued at $4,098,000 after purchasing an additional 4,495 shares during the last quarter.

Varex Imaging Stock Performance

VREX stock opened at $11.92 on Monday. The company has a 50 day moving average price of $12.27 and a 200 day moving average price of $14.66. 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 current ratio of 3.34 and a quick ratio of 1.89. The stock has a market capitalization of $487.53 million, a PE ratio of 13.39 and a beta of 0.56.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results 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). Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. The firm had revenue of $209.00 million during the quarter, compared to the consensus estimate of $209.50 million. During the same quarter in the prior year, the business earned $0.37 EPS. Varex Imaging’s revenue was down 10.0% on a year-over-year basis. Analysts forecast that Varex Imaging Co. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

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

Insider Activity

In related news, SVP Kimberley E. Honeysett sold 2,578 shares of Varex Imaging 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 sale, the senior vice president now directly owns 275 shares of the company’s stock, valued at $3,445.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Shubham Maheshwari bought 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $10.82 per share, for a total transaction of $108,200.00. Following the completion of the acquisition, the chief financial officer now owns 56,063 shares in the company, valued at approximately $606,601.66. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kimberley E. Honeysett sold 2,578 shares of the business’s 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 directly owns 275 shares of the company’s stock, valued at approximately $3,445.75. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

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.