Occudo Quantitative Strategies LP Cuts Position in Varex Imaging Co. (NASDAQ:VREX)

Occudo Quantitative Strategies LP cut its stake in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 80.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,071 shares of the company's stock after selling 46,834 shares during the period. Occudo Quantitative Strategies LP's holdings in Varex Imaging were worth $162,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in VREX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Varex Imaging by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,072 shares of the company's stock worth $322,000 after acquiring an additional 864 shares during the period. Barclays PLC boosted its holdings in Varex Imaging by 1.1% in the 4th quarter. Barclays PLC now owns 98,964 shares of the company's stock valued at $1,444,000 after purchasing an additional 1,081 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Varex Imaging by 0.8% in the 4th quarter. Isthmus Partners LLC now owns 149,874 shares of the company's stock valued at $2,187,000 after purchasing an additional 1,260 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of 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. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Varex Imaging during the 4th quarter worth $25,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. B. Riley raised Varex Imaging to a "strong-buy" rating in a research note on Monday, May 12th. Oppenheimer dropped their price objective on shares of Varex Imaging from $30.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Finally, StockNews.com raised Varex Imaging from a "hold" rating to a "buy" rating in a research note on Friday, February 7th.

Insiders Place Their Bets

In other Varex Imaging news, CEO Sunny Sanyal sold 8,749 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total transaction of $98,338.76. Following the transaction, the chief executive officer now owns 190,193 shares of the company's stock, valued at $2,137,769.32. This represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 value of $51,329.67. Following the completion of the sale, the senior vice president now directly owns 4,002 shares of the company's stock, valued at approximately $51,265.62. This represents a 50.03% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Varex Imaging Price Performance

Varex Imaging stock traded down $0.50 during midday trading on Wednesday, reaching $7.64. 428,443 shares of the company were exchanged, compared to its average volume of 576,853. The firm's 50-day simple moving average is $9.18 and its 200-day simple moving average is $12.45. Varex Imaging Co. has a 1 year low of $6.76 and a 1 year high of $16.93. The company has a market capitalization of $314.77 million, a price-to-earnings ratio of -6.53 and a beta of 0.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.50 and a current ratio of 4.36.

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 (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.12. The company had revenue of $212.90 million for the quarter, compared to analysts' expectations of $206.76 million. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. On average, analysts anticipate that Varex Imaging Co. will post 0.53 EPS for the current 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.