VAREX IMAGING (NASDAQ:VREX) Short Interest Down 23.5% in August

Key Points

• VAREX IMAGING's short interest decreased by 23.5% in August, totaling 933,300 shares as of August 31st, down from 1,220,000 shares.
• The company reported $0.18 EPS for the last quarter, significantly outperforming the consensus estimate of $0.04 and achieving revenues of $203 million compared to expected revenue of $190.32 million.
• Analysts have mixed views on VAREX IMAGING, with B. Riley maintaining a "buy" rating and a target price increase from $12.00 to $16.00, while Wall Street Zen lowered its rating from "strong-buy" to "buy."

VAREX IMAGING (NASDAQ:VREX - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 933,300 shares, a drop of 23.5% from the August 15th total of 1,220,000 shares. Approximately 2.3% of the company's shares are short sold. Based on an average daily volume of 427,400 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 427,400 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.3% of the company's shares are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On VAREX IMAGING

Several large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of VAREX IMAGING during the 1st quarter valued at $63,000. ProShare Advisors LLC purchased a new stake in shares of VAREX IMAGING during the 4th quarter valued at $159,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of VAREX IMAGING by 58.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,279 shares of the company's stock valued at $131,000 after purchasing an additional 4,139 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of VAREX IMAGING during the 4th quarter valued at $190,000. Finally, BNP Paribas Financial Markets increased its position in shares of VAREX IMAGING by 18.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,045 shares of the company's stock valued at $113,000 after purchasing an additional 2,036 shares during the last quarter.

VAREX IMAGING Trading Down 0.5%

NASDAQ:VREX traded down $0.06 on Friday, reaching $12.28. 763,745 shares of the stock traded hands, compared to its average volume of 327,101. The firm has a market capitalization of $509.62 million, a price-to-earnings ratio of -3.83 and a beta of 0.87. The company's 50 day moving average is $9.86 and its 200-day moving average is $9.32. The company has a current ratio of 3.51, a quick ratio of 1.82 and a debt-to-equity ratio of 0.78. VAREX IMAGING has a 1-year low of $6.76 and a 1-year high of $16.93.

VAREX IMAGING (NASDAQ:VREX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.14. The business had revenue of $203.00 million during the quarter, compared to the consensus estimate of $190.32 million. VAREX IMAGING had a negative net margin of 16.13% and a positive return on equity of 5.54%. VAREX IMAGING has set its Q4 2025 guidance at 0.100-0.300 EPS. Equities research analysts anticipate that VAREX IMAGING will post 0.53 EPS for the current fiscal 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.