Bank of New York Mellon Corp Purchases Shares of 160,256 Varex Imaging $VREX

Key Points

• Bank of New York Mellon acquired 160,256 Varex Imaging shares during the second quarter, worth approximately $1.67 million and representing about 0.38% of the company.
• Other institutional investors also increased their positions, including LSV Asset Management, which grew its holdings by 210.7%, and Legato Capital Management, which increased its stake by 889.9%.
• Analyst sentiment remains cautious, with Varex carrying a consensus “Hold” rating and an average price target of $16.88, below its reported opening price of $18.49. The company’s latest quarterly earnings of $0.31 per share exceeded estimates, though revenue fell short of expectations.

Bank of New York Mellon Corp acquired a new position in shares of Varex Imaging (NASDAQ:VREX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 160,256 shares of the company's stock, valued at approximately $1,671,000. Bank of New York Mellon Corp owned approximately 0.38% of Varex Imaging as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management grew its holdings in Varex Imaging by 210.7% during the fourth quarter. LSV Asset Management now owns 1,244,329 shares of the company's stock worth $14,496,000 after buying an additional 843,805 shares in the last quarter. Sei Investments Co. lifted its stake in Varex Imaging by 72.5% during the 1st quarter. Sei Investments Co. now owns 411,655 shares of the company's stock valued at $4,368,000 after acquiring an additional 173,041 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in Varex Imaging by 19.1% during the 4th quarter. Rice Hall James & Associates LLC now owns 1,082,964 shares of the company's stock valued at $12,617,000 after acquiring an additional 173,703 shares in the last quarter. Bank of America Corp DE boosted its holdings in Varex Imaging by 29.9% during the 1st quarter. Bank of America Corp DE now owns 337,699 shares of the company's stock worth $3,583,000 after acquiring an additional 77,761 shares during the last quarter. Finally, Legato Capital Management LLC boosted its holdings in Varex Imaging by 889.9% during the 4th quarter. Legato Capital Management LLC now owns 99,810 shares of the company's stock worth $1,163,000 after acquiring an additional 89,727 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on VREX. Sidoti reiterated a "neutral" rating and issued a $19.00 target price on shares of Varex Imaging in a research note on Monday, August 10th. CJS Securities cut shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Monday, August 17th. Wall Street Zen raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Oppenheimer downgraded shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Varex Imaging from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 26th. Seven research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.88.

Varex Imaging Stock Down 0.1%

Shares of NASDAQ:VREX opened at $18.49 on Wednesday. The company has a market capitalization of $778.43 million, a PE ratio of 35.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. The business has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $12.23. Varex Imaging has a 1 year low of $9.09 and a 1 year high of $18.63.

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

About Varex Imaging

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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