Wells Fargo & Company MN Decreases Stock Position in Varex Imaging Co. (NASDAQ:VREX)

Wells Fargo & Company MN trimmed its position in Varex Imaging Co. (NASDAQ:VREX - Free Report) by 45.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,387 shares of the company's stock after selling 79,626 shares during the period. Wells Fargo & Company MN owned 0.23% of Varex Imaging worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its position in Varex Imaging by 15.3% in the third quarter. Barclays PLC now owns 97,883 shares of the company's stock valued at $1,166,000 after purchasing an additional 12,966 shares during the last quarter. Geode Capital Management LLC grew its position in Varex Imaging by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 929,004 shares of the company's stock valued at $11,076,000 after purchasing an additional 4,211 shares during the last quarter. Empowered Funds LLC raised its holdings in Varex Imaging by 5.1% in the 4th quarter. Empowered Funds LLC now owns 166,977 shares of the company's stock worth $2,436,000 after acquiring an additional 8,104 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Varex Imaging in the fourth quarter worth $237,000. Finally, Principal Financial Group Inc. lifted its stake in Varex Imaging by 10.5% during the 4th quarter. Principal Financial Group Inc. now owns 41,144 shares of the company's stock valued at $600,000 after acquiring an additional 3,914 shares during the period.

Varex Imaging Price Performance

VREX stock traded up $0.17 during trading on Friday, reaching $8.56. The company's stock had a trading volume of 69,272 shares, compared to its average volume of 571,978. The company's fifty day moving average is $10.43 and its 200-day moving average is $12.87. Varex Imaging Co. has a 1 year low of $6.97 and a 1 year high of $17.02. The company has a market capitalization of $352.67 million, a P/E ratio of -7.34 and a beta of 0.65. 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 (NASDAQ:VREX - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. On average, research analysts expect that Varex Imaging Co. will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kimberley E. Honeysett sold 4,007 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.81, for a total transaction of $51,329.67. Following the sale, the senior vice president now owns 4,002 shares of the company's stock, valued at $51,265.62. This represents a 50.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sunny Sanyal sold 8,749 shares of Varex Imaging stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total transaction of $98,338.76. Following the completion of the transaction, the chief executive officer now directly 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. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Varex Imaging from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Oppenheimer reduced their target price on shares of Varex Imaging from $30.00 to $23.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Finally, B. Riley reaffirmed a "buy" rating and set a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a report on Friday, February 7th.

Varex Imaging Company 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.