Ameriprise Financial Inc. Raises Position in Varex Imaging Co. (NASDAQ:VREX)

Ameriprise Financial Inc. lifted its holdings in Varex Imaging Co. (NASDAQ:VREX - Free Report) by 111.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,842 shares of the company's stock after acquiring an additional 83,277 shares during the period. Ameriprise Financial Inc. owned 0.38% of Varex Imaging worth $2,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VREX. Empowered Funds LLC raised its position in Varex Imaging by 5.1% in the 4th quarter. Empowered Funds LLC now owns 166,977 shares of the company's stock worth $2,436,000 after purchasing an additional 8,104 shares during the period. Savant Capital LLC purchased a new position in Varex Imaging during the fourth quarter valued at approximately $237,000. Principal Financial Group Inc. increased its holdings in Varex Imaging by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 41,144 shares of the company's stock valued at $600,000 after buying an additional 3,914 shares during the period. Rice Hall James & Associates LLC increased its holdings in Varex Imaging by 240.7% during the fourth quarter. Rice Hall James & Associates LLC now owns 328,692 shares of the company's stock valued at $4,796,000 after buying an additional 232,229 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Varex Imaging by 60.7% during the fourth quarter. New York State Common Retirement Fund now owns 9,531 shares of the company's stock valued at $139,000 after buying an additional 3,600 shares during the period.

Varex Imaging Price Performance

Shares of Varex Imaging stock traded up $0.01 during trading hours on Monday, reaching $7.68. The stock had a trading volume of 118,379 shares, compared to its average volume of 580,720. The stock's 50 day moving average is $8.38 and its 200 day moving average is $12.08. The firm has a market capitalization of $316.21 million, a PE ratio of -6.58 and a beta of 0.62. Varex Imaging Co. has a twelve month low of $6.76 and a twelve month high of $16.93. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02.

Varex Imaging (NASDAQ:VREX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. The firm had revenue of $212.90 million during the quarter, compared to the consensus estimate of $206.76 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Varex Imaging Co. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VREX. Wall Street Zen lowered shares of Varex Imaging from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Oppenheimer dropped 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. Finally, B. Riley upgraded shares of Varex Imaging to a "strong-buy" rating in a research report on Monday, May 12th.

Insider Buying and Selling at Varex Imaging

In other Varex Imaging news, CEO Sunny Sanyal sold 8,749 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total value of $98,338.76. Following the completion of the sale, the chief executive officer now owns 190,193 shares in the company, valued at approximately $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 accessible through the SEC website. Also, SVP Kimberley E. Honeysett sold 4,007 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were 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 of the company's stock, valued at approximately $51,265.62. This trade represents a 50.03% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Varex Imaging Company 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.