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

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant decline in short interest during 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. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 511,600 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Varex Imaging

Hedge funds and other institutional investors have recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of Varex Imaging during the fourth quarter valued at $25,000. Quest Partners LLC acquired a new position in shares of Varex Imaging during the third quarter valued at $41,000. Quadrant Capital Group LLC boosted its holdings in shares of Varex Imaging by 115.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after acquiring an additional 1,520 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Varex Imaging in the fourth quarter worth about $48,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Varex Imaging in the fourth quarter worth about $98,000.

Wall Street Analysts Forecast Growth

VREX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Oppenheimer lowered 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 note on Friday, February 7th. Finally, B. Riley reiterated a “buy” rating and set a $22.00 target price (up previously from $21.00) on shares of Varex Imaging in a research note on Friday, February 7th.

Varex Imaging Stock Up 0.1 %

VREX stock opened at $12.83 on Wednesday. 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 has a 1-year low of $10.19 and a 1-year high of $18.30. The firm has a fifty day moving average price of $13.33 and a two-hundred day moving average price of $13.42. The firm has a market cap of $528.60 million, a price-to-earnings ratio of -10.97 and a beta of 0.56.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) 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%. Research analysts predict that Varex Imaging will post 0.53 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.