Assenagon Asset Management S.A. Sells 372,475 Shares of Varex Imaging $VREX

Key Points

• Assenagon Asset Management cut its Varex Imaging stake by 80.6% in the second quarter, selling 372,475 shares and retaining 89,412 shares valued at approximately $933,000.
• Other institutional investors increased their positions, including LSV Asset Management, Millennium Management and Qube Research & Technologies, indicating mixed investor sentiment toward Varex Imaging.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $16.88, despite Varex beating quarterly EPS expectations with $0.31 versus $0.21.

Assenagon Asset Management S.A. decreased its position in Varex Imaging (NASDAQ:VREX - Free Report) by 80.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,412 shares of the company's stock after selling 372,475 shares during the period. Assenagon Asset Management S.A. owned 0.21% of Varex Imaging worth $933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VREX. LSV Asset Management lifted its holdings in shares of Varex Imaging by 210.7% during the 4th quarter. LSV Asset Management now owns 1,244,329 shares of the company's stock valued at $14,496,000 after purchasing an additional 843,805 shares during the last quarter. Millennium Management LLC boosted its stake in Varex Imaging by 119.8% in the 3rd quarter. Millennium Management LLC now owns 913,169 shares of the company's stock worth $11,323,000 after purchasing an additional 497,650 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Varex Imaging by 2,514.9% in the second quarter. Qube Research & Technologies Ltd now owns 318,127 shares of the company's stock worth $2,758,000 after buying an additional 305,961 shares during the last quarter. Deerfield Management Company L.P. purchased a new position in shares of Varex Imaging in the third quarter worth $3,537,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth $3,196,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings upgraded Varex Imaging from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday. Zacks Research downgraded Varex Imaging from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Sidoti reissued a "neutral" rating and issued a $19.00 price objective on shares of Varex Imaging in a report on Monday, August 10th. Oppenheimer downgraded shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Varex Imaging from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $16.88.

Varex Imaging Price Performance

Varex Imaging stock opened at $18.49 on Friday. The company's fifty day moving average price is $11.60 and its 200 day moving average price is $11.69. Varex Imaging has a 1 year low of $9.09 and a 1 year high of $18.63. The stock has a market capitalization of $778.43 million, a P/E ratio of 35.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 3.38.

Varex Imaging (NASDAQ:VREX - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The business had revenue of $210.50 million for the quarter, compared to the consensus estimate of $215.50 million. As a group, equities research analysts anticipate that Varex Imaging will post 0.93 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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