Insider Buying: Varex Imaging Co. (NASDAQ:VREX) CFO Acquires 9,007 Shares of Stock

Varex Imaging Co. (NASDAQ:VREX) CFO Shubham Maheshwari purchased 9,007 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $10.98 per share, with a total value of $98,896.86. Following the purchase, the chief financial officer now owns 46,063 shares in the company, valued at $505,771.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Varex Imaging Stock Performance

VREX stock traded down $0.42 during midday trading on Monday, reaching $10.78. 543,765 shares of the company’s stock traded hands, compared to its average volume of 406,814. The company has a 50-day moving average price of $14.44 and a two-hundred day moving average price of $16.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.89 and a current ratio of 3.34. Varex Imaging Co. has a 52 week low of $10.72 and a 52 week high of $21.50. The firm has a market capitalization of $440.90 million, a PE ratio of 12.37 and a beta of 0.59.

Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, August 1st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $209.00 million for the quarter, compared to the consensus estimate of $209.50 million. Varex Imaging had a net margin of 4.11% and a return on equity of 6.11%. The company’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities analysts anticipate that Varex Imaging Co. will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Varex Imaging in the fourth quarter worth $30,000. Innealta Capital LLC purchased a new position in Varex Imaging in the second quarter worth $26,000. GAMMA Investing LLC purchased a new position in Varex Imaging in the fourth quarter worth $53,000. Pacific Center for Financial Services purchased a new position in Varex Imaging in the first quarter worth $94,000. Finally, Inspire Advisors LLC purchased a new position in Varex Imaging in the first quarter worth $184,000.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Varex Imaging from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.

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.