Point72 Asia Singapore Pte. Ltd. Reduces Stake in Varex Imaging Co. (NASDAQ:VREX)

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of Varex Imaging Co. (NASDAQ:VREX - Free Report) by 78.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,050 shares of the company's stock after selling 51,242 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in Varex Imaging were worth $205,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of Varex Imaging by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 41,144 shares of the company's stock worth $600,000 after purchasing an additional 3,914 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Varex Imaging by 87.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,030 shares of the company's stock worth $715,000 after purchasing an additional 22,829 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $426,000. Cerity Partners LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $147,000. Finally, Savant Capital LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $237,000.

Varex Imaging Price Performance

Shares of VREX stock traded up $0.13 during trading hours on Tuesday, hitting $8.14. 391,419 shares of the company's stock were exchanged, compared to its average volume of 577,447. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02. The firm has a market cap of $335.37 million, a P/E ratio of -6.96 and a beta of 0.62. The firm has a 50 day moving average of $9.27 and a two-hundred day moving average of $12.48. Varex Imaging Co. has a fifty-two week low of $6.76 and a fifty-two week high of $16.93.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.12. The business had revenue of $212.90 million during the quarter, compared to the consensus estimate of $206.76 million. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Sell-side analysts forecast that Varex Imaging Co. will post 0.53 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, SVP Kimberley E. Honeysett sold 4,007 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.81, for a total transaction of $51,329.67. Following the completion of the sale, the senior vice president now directly owns 4,002 shares in the company, valued at approximately $51,265.62. The trade was a 50.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 190,193 shares of the company's stock, valued at $2,137,769.32. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

Varex Imaging Profile

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.