Jacobs Levy Equity Management Inc. Acquires 215,241 Shares of Varex Imaging Co. (NASDAQ:VREX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 106.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,531 shares of the company's stock after buying an additional 215,241 shares during the period. Jacobs Levy Equity Management Inc. owned 1.01% of Varex Imaging worth $6,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in Varex Imaging during the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC grew its position in shares of Varex Imaging by 115.4% during the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company's stock valued at $41,000 after purchasing an additional 1,520 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Varex Imaging during the 4th quarter valued at $98,000. US Bancorp DE increased its holdings in shares of Varex Imaging by 149.8% in the fourth quarter. US Bancorp DE now owns 7,386 shares of the company's stock worth $108,000 after purchasing an additional 4,429 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Varex Imaging by 60.7% in the fourth quarter. New York State Common Retirement Fund now owns 9,531 shares of the company's stock worth $139,000 after buying an additional 3,600 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VREX. B. Riley upgraded Varex Imaging to a "strong-buy" rating in a research report on Monday, May 12th. Oppenheimer dropped their price target on Varex Imaging from $30.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, StockNews.com raised Varex Imaging from a "hold" rating to a "buy" rating in a report on Friday, February 7th.

Varex Imaging Price Performance

Shares of Varex Imaging stock traded up $0.01 during trading on Monday, hitting $7.89. 61,824 shares of the stock traded hands, compared to its average volume of 576,099. The stock has a market cap of $324.86 million, a price-to-earnings ratio of -6.69 and a beta of 0.62. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02. Varex Imaging Co. has a 52 week low of $6.76 and a 52 week high of $16.93. The firm's fifty day moving average is $9.36 and its 200-day moving average is $12.52.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, beating 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 negative net margin of 5.79% and a positive return on equity of 4.00%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. Research analysts expect that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Varex Imaging news, CEO Sunny Sanyal sold 8,749 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total value of $98,338.76. Following the completion of the sale, the chief executive officer now owns 190,193 shares in the company, valued at approximately $2,137,769.32. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kimberley E. Honeysett sold 4,007 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,002 shares of the company's stock, valued at approximately $51,265.62. This trade 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.

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.