Harbor Capital Advisors Inc. Buys 122,488 Shares of Varex Imaging Co. (NASDAQ:VREX)

Harbor Capital Advisors Inc. raised its stake in Varex Imaging Co. (NASDAQ:VREX) by 287.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,103 shares of the company’s stock after acquiring an additional 122,488 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.40% of Varex Imaging worth $2,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Hawaiian Bank increased its holdings in Varex Imaging by 32.9% in the 2nd quarter. First Hawaiian Bank now owns 31,049 shares of the company’s stock worth $457,000 after acquiring an additional 7,686 shares during the last quarter. Pacific Center for Financial Services bought a new stake in shares of Varex Imaging in the first quarter valued at approximately $94,000. Comerica Bank raised its position in shares of Varex Imaging by 98.1% in the first quarter. Comerica Bank now owns 37,586 shares of the company’s stock valued at $680,000 after purchasing an additional 18,615 shares during the period. Hancock Whitney Corp purchased a new stake in shares of Varex Imaging during the 1st quarter valued at approximately $296,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Varex Imaging in the 1st quarter worth approximately $207,000.

Varex Imaging Price Performance

VREX stock traded down $0.05 during mid-day trading on Wednesday, reaching $11.60. 408,199 shares of the company traded hands, compared to its average volume of 403,935. Varex Imaging Co. has a 52-week low of $11.46 and a 52-week high of $22.67. The company has a market capitalization of $474.44 million, a P/E ratio of 13.20, a P/E/G ratio of 2.85 and a beta of 0.59. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.23 and a quick ratio of 2.37. The company has a fifty day moving average price of $14.67 and a 200-day moving average price of $16.32.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). Varex Imaging had a net margin of 4.11% and a return on equity of 6.14%. The firm had revenue of $209.00 million for the quarter, compared to analysts’ expectations of $209.50 million. During the same period in the prior year, the firm posted $0.37 EPS. Varex Imaging’s revenue was down 10.0% on a year-over-year basis. As a group, analysts anticipate that Varex Imaging Co. will post 0.65 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

Varex Imaging 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.