Varex Imaging Corp (NASDAQ:VREX) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in shares of Varex Imaging Corp (NASDAQ:VREX) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,386 shares of the company’s stock after selling 1,950 shares during the period. Alliancebernstein L.P. owned approximately 0.17% of Varex Imaging worth $1,462,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its position in shares of Varex Imaging by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,181 shares of the company’s stock valued at $484,000 after acquiring an additional 698 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Varex Imaging by 30.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the company’s stock valued at $72,000 after purchasing an additional 742 shares during the period. Bank of Montreal Can boosted its stake in shares of Varex Imaging by 12.5% in the fourth quarter. Bank of Montreal Can now owns 8,163 shares of the company’s stock valued at $244,000 after purchasing an additional 910 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Varex Imaging in the fourth quarter valued at approximately $28,000. Finally, Fifth Third Bancorp boosted its stake in shares of Varex Imaging by 45.7% in the first quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock valued at $68,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 89.99% of the company’s stock.

Several research analysts have recently commented on the stock. Oppenheimer reissued a “buy” rating and issued a $40.00 price objective on shares of Varex Imaging in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lowered shares of Varex Imaging from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $25.00 in a research note on Wednesday, May 13th. Jefferies Financial Group lowered their price objective on shares of Varex Imaging from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, May 13th. BidaskClub lowered shares of Varex Imaging from a “hold” rating to a “sell” rating in a research note on Wednesday, May 20th. Finally, Zacks Investment Research downgraded shares of Varex Imaging from a “hold” rating to a “sell” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $32.50.

Shares of Varex Imaging stock opened at $15.09 on Wednesday. Varex Imaging Corp has a 52-week low of $14.27 and a 52-week high of $33.00. The company has a 50 day moving average of $17.32 and a 200 day moving average of $23.80. The company has a quick ratio of 0.87, a current ratio of 2.29 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $561.87 million, a P/E ratio of 125.76, a P/E/G ratio of 8.58 and a beta of 1.25.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.23). The company had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $199.90 million. Varex Imaging had a return on equity of 8.89% and a net margin of 0.58%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, research analysts anticipate that Varex Imaging Corp will post 0.34 earnings per share for the current fiscal year.

Varex Imaging Company Profile

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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Institutional Ownership by Quarter for Varex Imaging (NASDAQ:VREX)

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