Earnest Partners LLC Acquires Shares of 93,543 Varex Imaging Co. (NASDAQ:VREX)

Earnest Partners LLC acquired a new stake in Varex Imaging Co. (NASDAQ:VREX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 93,543 shares of the company's stock, valued at approximately $1,365,000. Earnest Partners LLC owned 0.23% of Varex Imaging at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aquatic Capital Management LLC bought a new stake in shares of Varex Imaging during the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC increased its position 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 worth $41,000 after acquiring an additional 1,520 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Varex Imaging during the 4th quarter worth $98,000. US Bancorp DE raised its holdings in shares of Varex Imaging by 149.8% in 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 in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of 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 valued at $139,000 after acquiring an additional 3,600 shares during the period.

Insider Activity

In other news, SVP Kimberley E. Honeysett sold 4,007 shares of Varex Imaging stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.81, for a total transaction of $51,329.67. Following the completion of the sale, the senior vice president now directly owns 4,002 shares in the company, valued at $51,265.62. The trade was a 50.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sunny Sanyal sold 8,749 shares of the firm's stock in a transaction 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 owns 190,193 shares in the company, valued at $2,137,769.32. The trade was a 4.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% of the company's stock.

Varex Imaging Stock Performance

Shares of VREX traded up $0.32 during midday trading on Friday, reaching $8.71. 326,687 shares of the stock were exchanged, compared to its average volume of 571,298. 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 Co. has a twelve month low of $6.97 and a twelve month high of $16.93. The business's 50-day moving average price is $10.35 and its 200 day moving average price is $12.87. The company has a market capitalization of $358.85 million, a price-to-earnings ratio of -7.44 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.07 earnings per share 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, sell-side analysts expect that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VREX shares. Oppenheimer cut their price objective on shares of Varex Imaging from $30.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. StockNews.com raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, B. Riley reissued a "buy" rating and issued a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a report on Friday, February 7th.

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.