Short Interest in VAREX IMAGING (NASDAQ:VREX) Declines By 23.5%

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) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 933,300 shares, a decline of 23.5% from the August 15th total of 1,220,000 shares. Based on an average trading volume of 427,400 shares, the short-interest ratio is presently 2.2 days. Approximately 2.3% of the shares of the company are short sold. Approximately 2.3% of the shares of the company are short sold. Based on an average trading volume of 427,400 shares, the short-interest ratio is presently 2.2 days.

Hedge Funds Weigh In On VAREX IMAGING

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in VAREX IMAGING in the 1st quarter worth about $63,000. BNP Paribas Financial Markets increased its holdings in VAREX IMAGING by 18.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 13,045 shares of the company's stock worth $113,000 after buying an additional 2,036 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in VAREX IMAGING by 25.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,104 shares of the company's stock worth $115,000 after buying an additional 2,659 shares in the last quarter. Cerity Partners LLC bought a new stake in VAREX IMAGING in the 2nd quarter worth about $123,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in VAREX IMAGING by 58.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,279 shares of the company's stock worth $131,000 after buying an additional 4,139 shares in the last quarter.

VAREX IMAGING Stock Down 0.5%

Shares of NASDAQ:VREX traded down $0.06 on Friday, hitting $12.28. 763,745 shares of the company traded hands, compared to its average volume of 327,101. VAREX IMAGING has a 52 week low of $6.76 and a 52 week high of $16.93. The company has a quick ratio of 1.82, a current ratio of 3.51 and a debt-to-equity ratio of 0.78. The stock has a 50 day simple moving average of $9.86 and a 200-day simple moving average of $9.29. The company has a market cap of $509.62 million, a PE ratio of -3.83 and a beta of 0.87.

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

Analysts Set New Price Targets

A number of research firms have weighed in on VREX. B. Riley reaffirmed a "buy" rating and set a $16.00 target price (up previously from $12.00) on shares of VAREX IMAGING in a report on Friday, August 8th. Wall Street Zen lowered 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, Based on data from MarketBeat.com, VAREX IMAGING presently has a consensus 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.