SFE Investment Counsel Lowers Holdings in Varex Imaging Co. (NASDAQ:VREX)

SFE Investment Counsel trimmed its position in Varex Imaging Co. (NASDAQ:VREX) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,350 shares of the company’s stock after selling 5,250 shares during the period. SFE Investment Counsel owned approximately 0.07% of Varex Imaging worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VREX. Envestnet Asset Management Inc. grew its position in Varex Imaging by 36.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,859 shares of the company’s stock valued at $231,000 after buying an additional 2,901 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Varex Imaging by 59.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock worth $62,000 after purchasing an additional 730 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Varex Imaging by 31.0% during the 1st quarter. JPMorgan Chase & Co. now owns 347,400 shares of the company’s stock worth $7,396,000 after purchasing an additional 82,155 shares in the last quarter. Raymond James & Associates purchased a new stake in shares of Varex Imaging during the 1st quarter worth $235,000. Finally, Citigroup Inc. raised its stake in shares of Varex Imaging by 10.2% during the 1st quarter. Citigroup Inc. now owns 39,115 shares of the company’s stock worth $833,000 after buying an additional 3,627 shares during the last quarter.

Varex Imaging Stock Performance

VREX stock remained flat at $16.91 during trading on Thursday. 82,820 shares of the company traded hands, compared to its average volume of 321,594. Varex Imaging Co. has a 12-month low of $16.62 and a 12-month high of $23.90. The company has a fifty day moving average price of $17.44 and a 200 day moving average price of $18.66. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.37 and a current ratio of 4.30. The company has a market capitalization of $686.55 million, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.05). Varex Imaging had a net margin of 5.08% and a return on equity of 9.21%. The company had revenue of $190.00 million for the quarter, compared to analyst estimates of $187.97 million. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Varex Imaging Co. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Varex Imaging from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th.

Varex Imaging 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.