Cubist Systematic Strategies LLC Sells 107,244 Shares of Varex Imaging Co. (NASDAQ:VREX)

Cubist Systematic Strategies LLC decreased its stake in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 56.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,808 shares of the company's stock after selling 107,244 shares during the period. Cubist Systematic Strategies LLC owned 0.20% of Varex Imaging worth $1,194,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Aquatic Capital Management LLC acquired a new stake in Varex Imaging in the 4th quarter worth about $25,000. Quadrant Capital Group LLC raised its stake in Varex Imaging by 115.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company's stock worth $41,000 after purchasing an additional 1,520 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Varex Imaging in the 4th quarter worth about $98,000. US Bancorp DE raised its stake in Varex Imaging by 149.8% in the 4th quarter. US Bancorp DE now owns 7,386 shares of the company's stock worth $108,000 after purchasing an additional 4,429 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Varex Imaging by 60.7% in the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company's stock worth $139,000 after purchasing an additional 3,600 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Sunny Sanyal sold 8,749 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total transaction of $98,338.76. Following the completion of the transaction, the chief executive officer now directly owns 190,193 shares in the company, valued at $2,137,769.32. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kimberley E. Honeysett sold 4,007 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.81, for a total transaction of $51,329.67. Following the transaction, the senior vice president now owns 4,002 shares of the company's stock, valued at approximately $51,265.62. This represents a 50.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Varex Imaging Price Performance

Shares of NASDAQ:VREX traded up $0.13 during midday trading on Monday, hitting $8.01. The stock had a trading volume of 366,476 shares, compared to its average volume of 577,266. The company's 50-day moving average price is $9.27 and its 200-day moving average price is $12.48. The company has a market capitalization of $330.01 million, a P/E ratio of -6.85 and a beta of 0.62. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02. Varex Imaging Co. has a fifty-two week low of $6.76 and a fifty-two week high of $16.93.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.14 by $0.12. The company had revenue of $212.90 million during the quarter, compared to analysts' expectations of $206.76 million. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. As a group, equities research analysts predict that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on VREX. Oppenheimer dropped their price objective 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. StockNews.com upgraded shares of Varex Imaging from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, B. Riley upgraded shares of Varex Imaging to a "strong-buy" rating in a research report on Monday, May 12th.

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.