Varex Imaging (NASDAQ:VREX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a research note released on Thursday morning.

Varex Imaging Stock Performance

Shares of VREX stock opened at $13.37 on Thursday. The firm has a market cap of $551.26 million, a PE ratio of -11.43 and a beta of 0.63. Varex Imaging has a 12 month low of $10.19 and a 12 month high of $21.06. The company’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $13.46. The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72.

Hedge Funds Weigh In On Varex Imaging

A number of institutional investors have recently added to or reduced their stakes in VREX. Natixis Advisors LLC purchased a new position in shares of Varex Imaging during the second quarter worth about $210,000. Texas Permanent School Fund Corp grew its stake in Varex Imaging by 27.3% in the 2nd quarter. Texas Permanent School Fund Corp now owns 44,696 shares of the company’s stock worth $658,000 after buying an additional 9,598 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Varex Imaging by 13.1% in the 2nd quarter. American Century Companies Inc. now owns 38,915 shares of the company’s stock worth $573,000 after buying an additional 4,509 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Varex Imaging by 37.7% during the 2nd quarter. WINTON GROUP Ltd now owns 61,316 shares of the company’s stock worth $903,000 after acquiring an additional 16,797 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Varex Imaging by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 359,937 shares of the company’s stock worth $5,302,000 after acquiring an additional 2,250 shares in the last quarter.

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.