Cooke & Bieler LP Raises Holdings in VAREX IMAGING (NASDAQ:VREX)

Cooke & Bieler LP increased its stake in VAREX IMAGING (NASDAQ:VREX - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,122,683 shares of the company's stock after acquiring an additional 333,794 shares during the period. Cooke & Bieler LP owned approximately 5.15% of VAREX IMAGING worth $24,623,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VREX. Aquatic Capital Management LLC acquired a new stake in VAREX IMAGING in the fourth quarter valued at $25,000. Quadrant Capital Group LLC raised its stake in VAREX IMAGING by 115.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company's stock valued at $41,000 after buying an additional 1,520 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in VAREX IMAGING in the fourth quarter valued at $48,000. KLP Kapitalforvaltning AS acquired a new stake in VAREX IMAGING in the fourth quarter valued at $98,000. Finally, Cerity Partners LLC acquired a new stake in VAREX IMAGING in the fourth quarter valued at $147,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. B. Riley upgraded VAREX IMAGING to a "strong-buy" rating in a research note on Monday, May 12th. Wall Street Zen raised VAREX IMAGING from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th.

VAREX IMAGING Stock Performance

VREX traded down $0.61 during trading on Friday, reaching $7.24. The company's stock had a trading volume of 440,677 shares, compared to its average volume of 555,934. VAREX IMAGING has a 52-week low of $6.76 and a 52-week high of $16.93. The company's fifty day moving average price is $8.07 and its 200-day moving average price is $10.37. The company has a market capitalization of $298.29 million, a price-to-earnings ratio of -7.03 and a beta of 0.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.36 and a current ratio of 4.05.

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 analysts' consensus estimates of $0.14 by $0.12. The business had revenue of $212.90 million for the quarter, compared to analysts' expectations of $206.76 million. VAREX IMAGING had a positive return on equity of 4.91% and a negative net margin of 5.08%. The company's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities analysts forecast that VAREX IMAGING will post 0.53 earnings per share for the current fiscal 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.