Varex Imaging (NASDAQ:VREX) CFO Shubham Maheshwari Sells 130,000 Shares of Stock

Varex Imaging (NASDAQ:VREX) CFO Shubham Maheshwari sold 130,000 shares of Varex Imaging stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $18.46, for a total value of $2,399,800.00. Following the transaction, the chief financial officer owned 139,972 shares of the company’s stock, valued at $2,583,883.12. This trade represents a 48.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Varex Imaging Stock Performance

Shares of Varex Imaging stock opened at $18.47 on Wednesday. The company has a market cap of $777.59 million, a PE ratio of 35.52 and a beta of 0.96. Varex Imaging has a 52 week low of $9.09 and a 52 week high of $18.63. The business has a 50 day moving average price of $15.11 and a 200-day moving average price of $12.40. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%.The company had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $215.50 million. Equities analysts anticipate that Varex Imaging will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Varex Imaging

Several large investors have recently made changes to their positions in VREX. SG Americas Securities LLC grew its holdings in shares of Varex Imaging by 4.4% during the first quarter. SG Americas Securities LLC now owns 30,202 shares of the company’s stock worth $320,000 after purchasing an additional 1,272 shares in the last quarter. Glenmede Trust Co. NA raised its position in shares of Varex Imaging by 15.5% during the 1st quarter. Glenmede Trust Co. NA now owns 14,202 shares of the company’s stock valued at $151,000 after buying an additional 1,909 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Varex Imaging by 5.2% during the 4th quarter. Hsbc Holdings PLC now owns 46,283 shares of the company’s stock worth $544,000 after acquiring an additional 2,298 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Varex Imaging during the 4th quarter worth $27,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Varex Imaging in the second quarter worth $32,000.

Analyst Ratings Changes

VREX has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 26th. Zacks Research downgraded shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. CJS Securities downgraded shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Finally, Oppenheimer lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Seven research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.88.

Varex Imaging Company Profile

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.

The company’s portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.

Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.