Varex Imaging Co. (NASDAQ:VREX) Sees Significant Growth in Short Interest

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,770,000 shares, a growth of 18.0% from the September 30th total of 1,500,000 shares. Based on an average daily volume of 675,800 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on Varex Imaging in a research note on Friday, August 23rd. They issued a “buy” rating and a $21.00 price target for the company.

Insider Buying and Selling

In other news, CFO Shubham Maheshwari purchased 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $10.82 per share, for a total transaction of $108,200.00. Following the completion of the purchase, the chief financial officer now directly owns 56,063 shares in the company, valued at $606,601.66. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Shubham Maheshwari acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $10.82 per share, with a total value of $108,200.00. Following the completion of the transaction, the chief financial officer now directly owns 56,063 shares of the company’s stock, valued at $606,601.66. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kimberley E. Honeysett sold 2,578 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.53, for a total value of $32,302.34. Following the sale, the senior vice president now owns 275 shares of the company’s stock, valued at $3,445.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Varex Imaging

Several large investors have recently made changes to their positions in the company. Creative Planning lifted its position in Varex Imaging by 9.2% in the 3rd quarter. Creative Planning now owns 19,644 shares of the company’s stock valued at $234,000 after acquiring an additional 1,654 shares in the last quarter. Innealta Capital LLC bought a new position in Varex Imaging in the 2nd quarter valued at about $26,000. Isthmus Partners LLC lifted its position in Varex Imaging by 1.2% in the 2nd quarter. Isthmus Partners LLC now owns 172,022 shares of the company’s stock valued at $2,534,000 after acquiring an additional 2,058 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Varex Imaging by 0.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 359,937 shares of the company’s stock valued at $5,302,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Varex Imaging in the 2nd quarter valued at about $38,000.

Varex Imaging Stock Performance

Shares of Varex Imaging stock opened at $13.28 on Tuesday. The company has a current ratio of 3.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $11.81 and a two-hundred day moving average price of $13.79. Varex Imaging has a 1-year low of $10.19 and a 1-year high of $21.50. The company has a market cap of $543.15 million, a P/E ratio of 14.78 and a beta of 0.55.

Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $209.00 million during the quarter, compared to analyst estimates of $209.50 million. Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, analysts anticipate that Varex Imaging will post 0.46 EPS for the current year.

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.