63,359 Shares in Varex Imaging $VREX Purchased by Man Group plc

Key Points

• Man Group plc acquired 63,359 shares of Varex Imaging during the second quarter, worth approximately $661,000 and representing 0.15% of the company. Other major investors, including Pzena Investment Management and BlackRock, also established new positions.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $16.88, despite some firms upgrading the stock.
• Varex Imaging reported quarterly EPS of $0.31, beating the $0.21 consensus estimate, while revenue of $210.5 million fell short of expectations. Shares opened at $18.52, near their 52-week high.

Man Group plc acquired a new stake in Varex Imaging (NASDAQ:VREX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 63,359 shares of the company's stock, valued at approximately $661,000. Man Group plc owned 0.15% of Varex Imaging as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in VREX. Pzena Investment Management LLC bought a new position in shares of Varex Imaging during the 2nd quarter worth approximately $45,312,000. BlackRock Inc. bought a new stake in Varex Imaging in the 2nd quarter valued at $40,624,000. Vanguard Group Inc. raised its stake in Varex Imaging by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,989,847 shares of the company's stock valued at $37,074,000 after acquiring an additional 126,396 shares during the period. Cooke & Bieler LP lifted its holdings in Varex Imaging by 2.2% during the 4th quarter. Cooke & Bieler LP now owns 1,632,525 shares of the company's stock valued at $19,019,000 after purchasing an additional 35,042 shares during the last quarter. Finally, Rice Hall James & Associates LLC bought a new position in Varex Imaging during the second quarter worth $15,080,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on VREX shares. Wall Street Zen upgraded shares of Varex Imaging from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Weiss Ratings upgraded shares of Varex Imaging from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 26th. Sidoti reaffirmed a "neutral" rating and set a $19.00 target price on shares of Varex Imaging in a report on Monday, August 10th. Zacks Research lowered shares of Varex Imaging from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, CJS Securities cut shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Monday, August 17th. Seven research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.88.

Varex Imaging Stock Up 0.3%

VREX stock opened at $18.52 on Friday. Varex Imaging has a fifty-two week low of $9.09 and a fifty-two week high of $18.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. The stock has a market capitalization of $779.69 million, a price-to-earnings ratio of 35.62 and a beta of 0.96. The business's fifty day moving average price is $13.83 and its two-hundred day moving average price is $12.12.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. On average, equities analysts anticipate that Varex Imaging will post 1.04 earnings per share for the current year.

Varex Imaging Company Profile

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company's medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.

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