99,964 Shares in Varex Imaging $VREX Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC purchased 99,964 shares of Varex Imaging in the second quarter, worth approximately $1.04 million and representing a 0.24% stake.
• Several institutional investors increased their Varex positions, including Amundi, which boosted its holdings by 784.1%, while other firms raised stakes by roughly 4.6% to 25.1%.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $16.88. Varex recently reported quarterly EPS of $0.31, beating estimates of $0.21, though revenue fell short of expectations.

Empowered Funds LLC purchased a new stake in shares of Varex Imaging (NASDAQ:VREX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 99,964 shares of the company's stock, valued at approximately $1,043,000. Empowered Funds LLC owned 0.24% of Varex Imaging as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VREX. Jane Street Group LLC increased its position in shares of Varex Imaging by 17.9% in the first quarter. Jane Street Group LLC now owns 159,362 shares of the company's stock valued at $1,849,000 after acquiring an additional 24,160 shares during the period. Rhumbline Advisers grew its stake in shares of Varex Imaging by 4.6% in the second quarter. Rhumbline Advisers now owns 61,820 shares of the company's stock worth $536,000 after purchasing an additional 2,694 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Varex Imaging by 19.7% in the second quarter. Hsbc Holdings PLC now owns 47,525 shares of the company's stock worth $408,000 after purchasing an additional 7,825 shares during the last quarter. Quantbot Technologies LP increased its holdings in Varex Imaging by 25.1% during the 2nd quarter. Quantbot Technologies LP now owns 47,292 shares of the company's stock valued at $410,000 after purchasing an additional 9,476 shares during the period. Finally, Amundi increased its holdings in Varex Imaging by 784.1% during the 2nd quarter. Amundi now owns 21,900 shares of the company's stock valued at $191,000 after purchasing an additional 19,423 shares during the period.

Analyst Upgrades and Downgrades

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

Varex Imaging Stock Performance

Shares of Varex Imaging stock opened at $18.51 on Friday. The business has a fifty day simple moving average of $14.00 and a two-hundred day simple moving average of $12.17. The firm has a market capitalization of $779.27 million, a P/E ratio of 35.60 and a beta of 0.96. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. Varex Imaging has a 12 month low of $9.09 and a 12 month high of $18.63.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.10. The company had revenue of $210.50 million during the quarter, compared to analyst estimates of $215.50 million. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. On average, equities analysts forecast that Varex Imaging will post 1.04 earnings per share for the current fiscal 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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