GYL Financial Synergies LLC purchased a new stake in Varex Imaging Corp (NASDAQ:VREX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,541 shares of the company’s stock, valued at approximately $493,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Varex Imaging by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock worth $69,000 after purchasing an additional 715 shares in the last quarter. Arizona State Retirement System lifted its holdings in Varex Imaging by 6.5% during the 4th quarter. Arizona State Retirement System now owns 58,703 shares of the company’s stock worth $1,390,000 after purchasing an additional 3,561 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Varex Imaging during the 4th quarter worth about $71,000. Rhumbline Advisers lifted its holdings in Varex Imaging by 20.4% during the 4th quarter. Rhumbline Advisers now owns 109,522 shares of the company’s stock worth $2,593,000 after purchasing an additional 18,580 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Varex Imaging by 4.7% during the 4th quarter. SG Americas Securities LLC now owns 34,948 shares of the company’s stock worth $828,000 after purchasing an additional 1,571 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Varex Imaging from a “buy” rating to a “hold” rating in a report on Saturday. CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 11th. Finally, Northland Securities reissued a “buy” rating and set a $42.00 price objective on shares of Varex Imaging in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $34.60.
Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The firm had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $194.76 million. During the same quarter last year, the firm posted $0.45 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that Varex Imaging Corp will post 1.36 EPS for the current year.
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Varex Imaging 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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