Varex Imaging Co. (NASDAQ:VREX) CEO Sells $98,338.76 in Stock

Varex Imaging Co. (NASDAQ:VREX) CEO Sunny Sanyal sold 8,749 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total transaction of $98,338.76. Following the transaction, the chief executive officer now owns 190,193 shares of the company’s stock, valued at approximately $2,137,769.32. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Varex Imaging Stock Down 9.8 %

Shares of NASDAQ VREX traded down $1.12 during mid-day trading on Thursday, reaching $10.31. 380,880 shares of the company traded hands, compared to its average volume of 539,219. The company’s fifty day moving average is $12.99 and its two-hundred day moving average is $13.45. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.50 and a current ratio of 4.36. Varex Imaging Co. has a fifty-two week low of $10.19 and a fifty-two week high of $18.30. The stock has a market cap of $424.77 million, a PE ratio of -8.81 and a beta of 0.65.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. On average, analysts expect that Varex Imaging Co. will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VREX. Aquatic Capital Management LLC acquired a new stake in shares of Varex Imaging in the fourth quarter valued at about $25,000. Quadrant Capital Group LLC boosted its stake in Varex Imaging by 115.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after purchasing an additional 1,520 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Varex Imaging in the 4th quarter valued at approximately $48,000. KLP Kapitalforvaltning AS acquired a new position in shares of Varex Imaging during the fourth quarter worth approximately $98,000. Finally, US Bancorp DE raised its stake in Varex Imaging by 149.8% during the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock valued at $108,000 after purchasing an additional 4,429 shares during the last quarter.

Wall Street Analyst Weigh In

VREX has been the subject of several research analyst reports. Oppenheimer reduced their price target 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. B. Riley reissued a “buy” rating and issued a $22.00 target price (up from $21.00) on shares of Varex Imaging in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Friday, February 7th.

About Varex Imaging

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.