Connor Clark & Lunn Investment Management Ltd. Increases Position in Varex Imaging Co. (NASDAQ:VREX)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Varex Imaging Co. (NASDAQ:VREX) by 87.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,030 shares of the company’s stock after purchasing an additional 22,829 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Varex Imaging worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of VREX. Quest Partners LLC purchased a new stake in shares of Varex Imaging in the third quarter worth $41,000. US Bancorp DE increased its stake in shares of Varex Imaging by 149.8% in the fourth quarter. US Bancorp DE now owns 7,386 shares of the company’s stock worth $108,000 after purchasing an additional 4,429 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Varex Imaging by 60.7% during the fourth quarter. New York State Common Retirement Fund now owns 9,531 shares of the company’s stock worth $139,000 after acquiring an additional 3,600 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Varex Imaging during the fourth quarter worth $147,000. Finally, Inceptionr LLC bought a new position in shares of Varex Imaging during the fourth quarter worth $168,000.

Analyst Ratings Changes

A number of equities analysts recently weighed in on VREX shares. StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Oppenheimer dropped their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, B. Riley restated a “buy” rating and set a $22.00 target price (up previously from $21.00) on shares of Varex Imaging in a research report on Friday, February 7th.

Varex Imaging Trading Down 2.3 %

VREX stock opened at $12.57 on Friday. The company has a market capitalization of $517.88 million, a PE ratio of -10.74 and a beta of 0.56. Varex Imaging Co. has a 12 month low of $10.19 and a 12 month high of $18.30. The firm’s 50-day moving average is $13.28 and its 200 day moving average is $13.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.36 and a quick ratio of 2.50.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.07 EPS for the quarter, topping 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%. On average, research analysts anticipate that Varex Imaging Co. will post 0.53 EPS for the current year.

Insider Buying and Selling at Varex Imaging

In other news, SVP Kimberley E. Honeysett sold 4,007 shares of Varex Imaging stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.81, for a total value of $51,329.67. Following the transaction, the senior vice president now owns 4,002 shares of the company’s stock, valued at $51,265.62. The trade was a 50.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Varex Imaging Company 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.