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

Ameriprise Financial Inc. raised its holdings in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 111.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,842 shares of the company's stock after purchasing an additional 83,277 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.38% of Varex Imaging worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in VREX. Aquatic Capital Management LLC purchased a new stake in Varex Imaging during the fourth quarter valued at about $25,000. Quadrant Capital Group LLC lifted its holdings in Varex Imaging by 115.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company's stock valued at $41,000 after purchasing an additional 1,520 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Varex Imaging during the fourth quarter valued at about $98,000. US Bancorp DE lifted its holdings in Varex Imaging by 149.8% during the fourth 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 during the last quarter. Finally, New York State Common Retirement Fund lifted 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 purchasing an additional 3,600 shares during the last quarter.

Varex Imaging Price Performance

NASDAQ VREX traded up $0.25 on Tuesday, reaching $7.91. 329,441 shares of the company's stock traded hands, compared to its average volume of 580,532. 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 12 month low of $6.76 and a 12 month high of $16.93. The stock has a market cap of $325.89 million, a PE ratio of -6.76 and a beta of 0.62. The stock has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $12.01.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $206.76 million. During the same quarter last year, the business earned $0.16 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that Varex Imaging Co. will post 0.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VREX shares. Wall Street Zen downgraded shares of Varex Imaging from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. B. Riley raised shares of Varex Imaging to a "strong-buy" rating in a report on Monday, May 12th. Finally, Oppenheimer lowered their price target 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.

Insider Activity at Varex Imaging

In related news, CEO Sunny Sanyal sold 8,749 shares of Varex Imaging stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total value of $98,338.76. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kimberley E. Honeysett sold 4,007 shares of Varex Imaging stock in a transaction 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 owns 4,002 shares in the company, 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 currently owned by company insiders.

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.