Public Employees Retirement System of Ohio Invests $567,000 in Varex Imaging $VREX

Key Points

• Public Employees Retirement System of Ohio purchased 54,335 Varex Imaging shares worth approximately $567,000, representing about 0.13% of the company.
• Several other institutional investors also initiated positions during the second quarter, including J. Goldman & Co. ($6.2 million), Bank of America ($3.0 million) and Man Group ($661,000).
• Varex Imaging beat quarterly EPS expectations, reporting $0.31 versus the $0.21 consensus, while revenue of $210.5 million fell short of estimates. Analysts maintain a consensus “Hold” rating with a $16.88 price target.

Public Employees Retirement System of Ohio bought a new stake in Varex Imaging (NASDAQ:VREX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 54,335 shares of the company's stock, valued at approximately $567,000. Public Employees Retirement System of Ohio owned about 0.13% of Varex Imaging at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of America Corp DE bought a new stake in Varex Imaging in the second quarter valued at approximately $2,992,000. Man Group plc bought a new position in shares of Varex Imaging in the second quarter worth approximately $661,000. J. Goldman & Co LP bought a new position in shares of Varex Imaging in the second quarter worth approximately $6,215,000. Hsbc Holdings PLC bought a new position in shares of Varex Imaging in the second quarter worth approximately $229,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Varex Imaging in the second quarter worth $148,000.

Varex Imaging Stock Performance

Shares of VREX stock opened at $18.47 on Friday. Varex Imaging has a 12 month low of $9.09 and a 12 month high of $18.63. The stock has a market cap of $777.59 million, a PE ratio of 35.52 and a beta of 0.96. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. The company's fifty day moving average price is $14.64 and its 200-day moving average price is $12.30.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. CJS Securities lowered Varex Imaging from an "outperform" rating to a "market perform" rating in a research report on Monday, August 17th. Sidoti restated a "neutral" rating and set a $19.00 target price on shares of Varex Imaging in a report on Monday, August 10th. B. Riley Financial lowered Varex Imaging from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Varex Imaging from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 26th. Seven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $16.88.

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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