Jay Kunkel Sells 8,121 Shares of Varex Imaging (NASDAQ:VREX) Stock

Varex Imaging (NASDAQ:VREX) Director Jay Kunkel sold 8,121 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $18.48, for a total transaction of $150,076.08. Following the sale, the director owned 15,329 shares in the company, valued at $283,279.92. The trade was a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Varex Imaging Price Performance

Shares of NASDAQ:VREX opened at $18.47 on Thursday. The firm’s 50 day moving average price is $15.26 and its 200 day moving average price is $12.44. The stock has a market cap of $777.59 million, a price-to-earnings ratio of 35.52 and a beta of 0.96. Varex Imaging has a fifty-two week low of $9.09 and a fifty-two week high of $18.63. 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 posted its quarterly earnings results on Monday, August 10th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The company had revenue of $210.50 million during the quarter, compared to analysts’ expectations of $215.50 million. As a group, equities research analysts predict that Varex Imaging will post 1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on VREX shares. Sidoti reissued a “neutral” rating and issued a $19.00 target price on shares of Varex Imaging in a report on Monday, August 10th. CJS Securities cut Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. B. Riley Financial cut Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 26th. Finally, Zacks Research lowered Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VREX. JB Capital Partners LP acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $3,535,395. Pzena Investment Management LLC acquired a new stake in Varex Imaging during the 2nd quarter worth $45,312,000. Rice Hall James & Associates LLC purchased a new position in Varex Imaging during the 2nd quarter worth $15,080,000. BlackRock Inc. purchased a new position in Varex Imaging during the 2nd quarter worth $40,624,000. Finally, LSV Asset Management increased its stake in Varex Imaging by 210.7% in the fourth quarter. LSV Asset Management now owns 1,244,329 shares of the company’s stock valued at $14,496,000 after purchasing an additional 843,805 shares during the period.

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.