Varex Imaging Co. (NASDAQ:VREX) Short Interest Up 23.0% in November

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,660,000 shares, an increase of 23.0% from the November 15th total of 1,350,000 shares. Based on an average trading volume of 760,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Varex Imaging by 4,739.2% during the third quarter. FMR LLC now owns 200,341 shares of the company’s stock worth $2,388,000 after purchasing an additional 196,201 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Varex Imaging by 37.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 185,506 shares of the company’s stock valued at $2,211,000 after purchasing an additional 50,382 shares during the period. Weiss Asset Management LP purchased a new position in Varex Imaging during the 3rd quarter worth approximately $2,593,000. Rice Hall James & Associates LLC acquired a new position in Varex Imaging during the third quarter worth approximately $1,150,000. Finally, PDT Partners LLC purchased a new stake in Varex Imaging in the third quarter valued at approximately $1,802,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VREX shares. B. Riley assumed coverage on Varex Imaging in a research note on Friday, August 23rd. They set a “buy” rating and a $21.00 target price for the company. StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th.

Varex Imaging Price Performance

Shares of NASDAQ VREX opened at $15.44 on Monday. The stock’s 50-day simple moving average is $14.07 and its 200-day simple moving average is $13.57. The firm has a market capitalization of $634.58 million, a PE ratio of -13.20 and a beta of 0.60. Varex Imaging 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 0.72, a quick ratio of 1.97 and a current ratio of 3.32.

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.