Varex Imaging Co. (NASDAQ:VREX) Short Interest Update

Varex Imaging Co. (NASDAQ:VREX) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 966,300 shares, a decline of 17.4% from the February 13th total of 1,170,000 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 511,600 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of Varex Imaging

Several institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its holdings in Varex Imaging by 51.4% in the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company’s stock valued at $46,379,000 after acquiring an additional 1,321,666 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Varex Imaging in the third quarter valued at $19,801,000. Wealthfront Advisers LLC acquired a new stake in Varex Imaging in the fourth quarter valued at $18,900,000. Geode Capital Management LLC raised its holdings in Varex Imaging by 0.5% in the third quarter. Geode Capital Management LLC now owns 929,004 shares of the company’s stock valued at $11,076,000 after acquiring an additional 4,211 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Varex Imaging by 70.4% during the fourth quarter. Royce & Associates LP now owns 746,770 shares of the company’s stock worth $10,895,000 after purchasing an additional 308,629 shares during the period.

Wall Street Analysts Forecast Growth

VREX has been the subject of several research reports. Oppenheimer decreased their price objective on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Finally, B. Riley restated a “buy” rating and issued a $22.00 target price (up from $21.00) on shares of Varex Imaging in a research note on Friday, February 7th.

Varex Imaging Price Performance

Shares of VREX stock opened at $13.02 on Thursday. The company has a market capitalization of $536.42 million, a PE ratio of -11.13 and a beta of 0.56. The firm has a fifty day simple moving average of $13.31 and a 200-day simple moving average of $13.42. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02. Varex Imaging has a twelve month low of $10.19 and a twelve month high of $18.30.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. Equities research analysts anticipate that Varex Imaging will post 0.53 earnings per share for the current fiscal year.

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.