Allspring Global Investments Holdings LLC Increases Stock Position in Varex Imaging (NASDAQ:VREX)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Varex Imaging (NASDAQ:VREX - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,779,412 shares of the company's stock after acquiring an additional 481,537 shares during the period. Allspring Global Investments Holdings LLC owned approximately 6.75% of Varex Imaging worth $31,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealthfront Advisers LLC bought a new stake in shares of Varex Imaging during the fourth quarter worth about $18,900,000. Royce & Associates LP grew its position in Varex Imaging by 70.4% in the 4th quarter. Royce & Associates LP now owns 746,770 shares of the company's stock worth $10,895,000 after purchasing an additional 308,629 shares in the last quarter. Boston Partners bought a new stake in Varex Imaging in the 4th quarter worth about $8,718,000. AQR Capital Management LLC grew its position in Varex Imaging by 18.0% in the 4th quarter. AQR Capital Management LLC now owns 570,876 shares of the company's stock worth $8,329,000 after purchasing an additional 87,098 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Varex Imaging by 510.7% in the 4th quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company's stock worth $6,881,000 after purchasing an additional 394,381 shares in the last quarter.

Insider Buying and Selling at Varex Imaging

In other news, CEO Sunny Sanyal sold 8,749 shares of the 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 directly owned 190,193 shares of the company's stock, valued at $2,137,769.32. This represents a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. B. Riley raised shares of Varex Imaging to a "strong-buy" rating in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Varex Imaging from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd.

Varex Imaging Stock Performance

Shares of Varex Imaging stock traded down $0.10 on Tuesday, reaching $8.57. 315,865 shares of the company traded hands, compared to its average volume of 560,635. Varex Imaging has a 52 week low of $6.76 and a 52 week high of $16.93. The company has a 50 day moving average of $8.06 and a 200 day moving average of $10.97. The firm has a market capitalization of $353.08 million, a PE ratio of -8.32 and a beta of 0.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.05 and a quick ratio of 2.36.

Varex Imaging (NASDAQ:VREX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.12. Varex Imaging had a negative net margin of 5.08% and a positive return on equity of 4.91%. The firm had revenue of $212.90 million during the quarter, compared to the consensus estimate of $206.76 million. During the same period in the prior year, the firm earned $0.16 EPS. The company's revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Varex Imaging will post 0.53 earnings per share for the current year.

About Varex Imaging

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.