Cubist Systematic Strategies LLC Increases Stake in Varex Imaging $VREX

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in VAREX IMAGING by 237.1%, owning 275,749 shares valued at approximately $3.20 million.
• VAREX IMAGING reported earnings of $0.18 per share for the latest quarter, beating estimates, along with a revenue of $203 million.
• Several research firms have rated VAREX IMAGING as a "buy," with a consensus price target set at $19.50.

Cubist Systematic Strategies LLC boosted its position in Varex Imaging (NASDAQ:VREX - Free Report) by 237.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,749 shares of the company's stock after buying an additional 193,941 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.67% of Varex Imaging worth $3,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Varex Imaging by 21.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,779,412 shares of the company's stock valued at $31,769,000 after buying an additional 481,537 shares during the period. Vanguard Group Inc. lifted its holdings in Varex Imaging by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,640,127 shares of the company's stock valued at $30,625,000 after buying an additional 106,412 shares during the period. Cooke & Bieler LP raised its holdings in shares of Varex Imaging by 18.7% during the first quarter. Cooke & Bieler LP now owns 2,122,683 shares of the company's stock valued at $24,623,000 after purchasing an additional 333,794 shares during the period. Wellington Management Group LLP boosted its position in shares of Varex Imaging by 5.9% during the 1st quarter. Wellington Management Group LLP now owns 1,545,829 shares of the company's stock worth $17,932,000 after purchasing an additional 86,350 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Varex Imaging by 2.1% during the 1st quarter. Royce & Associates LP now owns 762,733 shares of the company's stock worth $8,848,000 after purchasing an additional 15,963 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms recently weighed in on VREX. Wall Street Zen lowered shares of Varex Imaging from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. B. Riley restated a "buy" rating and set a $16.00 price target (up previously from $12.00) on shares of Varex Imaging in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $19.50.

Varex Imaging Trading Down 3.6%

NASDAQ:VREX traded down $0.42 during trading hours on Wednesday, reaching $11.17. The company's stock had a trading volume of 172,177 shares, compared to its average volume of 466,731. The firm has a market capitalization of $463.56 million, a price-to-earnings ratio of -3.48 and a beta of 0.87. The firm has a 50-day simple moving average of $9.36 and a 200-day simple moving average of $9.37. Varex Imaging has a 1 year low of $6.76 and a 1 year high of $16.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.82 and a current ratio of 3.51.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.14. The company had revenue of $203.00 million for the quarter, compared to analysts' expectations of $190.32 million. Varex Imaging had a negative net margin of 16.13% and a positive return on equity of 5.54%. Varex Imaging has set its Q4 2025 guidance at 0.100-0.300 EPS. Research analysts expect that Varex Imaging will post 0.53 EPS 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.