PDT Partners LLC Sells 53,959 Shares of Varex Imaging $VREX

Key Points

• PDT Partners LLC has decreased its holdings in Varex Imaging by 48.0%, selling 53,959 shares during the first quarter, and now owns approximately 0.14% of the company.
• Varex Imaging reported quarterly earnings of $0.18 per share, significantly exceeding the consensus estimate of $0.04, with revenue of $203 million compared to estimates of $190.32 million.
• Analysts have updated their price targets for Varex Imaging, with B. Riley raising their target to $16.00 and the consensus target now at $19.50, reflecting overall positive sentiment.

PDT Partners LLC cut its stake in Varex Imaging (NASDAQ:VREX - Free Report) by 48.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,385 shares of the company's stock after selling 53,959 shares during the period. PDT Partners LLC owned approximately 0.14% of Varex Imaging worth $677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its stake in Varex Imaging by 237.1% during the first quarter. Cubist Systematic Strategies LLC now owns 275,749 shares of the company's stock valued at $3,199,000 after purchasing an additional 193,941 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Varex Imaging during the 1st quarter valued at $1,063,000. Quarry LP acquired a new stake in shares of Varex Imaging during the 1st quarter valued at $63,000. State of Wyoming boosted its stake in shares of Varex Imaging by 42.0% during the 1st quarter. State of Wyoming now owns 16,626 shares of the company's stock valued at $193,000 after buying an additional 4,918 shares during the period. Finally, JB Capital Partners LP raised its holdings in shares of Varex Imaging by 340.0% during the 1st quarter. JB Capital Partners LP now owns 110,000 shares of the company's stock valued at $1,276,000 after purchasing an additional 85,000 shares in the last quarter.

Varex Imaging Price Performance

Shares of VREX stock traded up $0.01 during trading hours on Tuesday, reaching $11.68. 112,970 shares of the company were exchanged, compared to its average volume of 466,587. Varex Imaging has a fifty-two week low of $6.76 and a fifty-two week high of $16.93. The stock's fifty day moving average is $9.30 and its two-hundred day moving average is $9.35. The company has a market cap of $484.72 million, a price-to-earnings ratio of -3.62 and a beta of 0.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.51 and a quick ratio of 1.82.

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

Analyst Ratings Changes

VREX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Varex Imaging from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. B. Riley reissued a "buy" rating and issued a $16.00 target price (up previously from $12.00) on shares of Varex Imaging in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $19.50.

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.