Insider Selling: Varex Imaging (NASDAQ:VREX) CFO Sells $2,399,800.00 in Stock

Varex Imaging (NASDAQ:VREX) CFO Shubham Maheshwari sold 130,000 shares of Varex Imaging stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $18.46, for a total transaction of $2,399,800.00. Following the completion of the sale, the chief financial officer owned 139,972 shares in the company, valued at approximately $2,583,883.12. This represents a 48.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Varex Imaging Stock Performance

NASDAQ VREX traded up $0.01 on Tuesday, hitting $18.47. The stock had a trading volume of 548,724 shares, compared to its average volume of 526,859. Varex Imaging has a one year low of $9.09 and a one year high of $18.63. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64. The stock has a market cap of $777.59 million, a price-to-earnings ratio of 35.52 and a beta of 0.96. The company’s 50-day moving average is $14.95 and its two-hundred day moving average is $12.37.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The company had revenue of $210.50 million for the quarter, compared to analysts’ expectations of $215.50 million. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. On average, analysts expect that Varex Imaging will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer lowered Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. B. Riley Financial downgraded shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings upgraded shares of Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 26th. Finally, CJS Securities lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.88.

Hedge Funds Weigh In On Varex Imaging

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Varex Imaging by 4.4% in the 1st quarter. SG Americas Securities LLC now owns 30,202 shares of the company’s stock worth $320,000 after purchasing an additional 1,272 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Varex Imaging by 15.5% during the first quarter. Glenmede Trust Co. NA now owns 14,202 shares of the company’s stock valued at $151,000 after purchasing an additional 1,909 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Varex Imaging by 5.2% during the fourth quarter. Hsbc Holdings PLC now owns 46,283 shares of the company’s stock worth $544,000 after buying an additional 2,298 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in Varex Imaging during the fourth quarter worth approximately $27,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Varex Imaging in the second quarter worth approximately $32,000.

About Varex Imaging

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.

The company’s portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.

Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.