Allspring Global Investments Reduces Stake in Varex Imaging Co.

Allspring Global Investments Holdings LLC has reduced its holdings in Varex Imaging Co. (NASDAQ:VREX) by 10.1% in the fourth quarter, as reported in the company's recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 256,948 shares during this period, Allspring now owns a total of 2,297,875 shares in the company. This stake represents approximately 5.57% of Varex Imaging, with a current market value of about $33,112,000.

A host of other hedge funds have also made changes to their positions in Varex Imaging recently. For instance, Quest Partners LLC established a new stake in Varex Imaging during the third quarter, valued at $41,000. Additionally, CWM LLC significantly increased its holdings by 2,384.2% during the same period, bringing its total to 9,589 shares, valued at $114,000 after acquiring an extra 9,203 shares. Inspire Advisors LLC also expanded its position, boosting its ownership by 29.8% to a total of 14,149 shares, worth $169,000, after adding 3,245 shares. Furthermore, Intech Investment Management LLC raised its stake by 13.7% to 16,267 shares, valued at $194,000 after acquiring an additional 1,959 shares. Finally, Y Intercept Hong Kong Ltd also purchased a new position, valued at $204,000, in Varex Imaging during the third quarter.

Varex Imaging Stock Overview

The stock for Varex Imaging opened at $13.27 recently. The company boasts a market capitalization of $546.72 million, with a price-to-earnings ratio of -11.34 and a beta of 0.62. It has a 50-day simple moving average of $14.22 and a 200-day simple moving average of $13.34. Over the past year, Varex Imaging's stock has seen a low of $10.19 and a high of $18.30. Furthermore, the company has a quick ratio of 1.97, a current ratio of 3.32, and a debt-to-equity ratio of 0.72.

Varex Imaging Co. recently shared its quarterly earnings data on February 6th. The reported earnings per share (EPS) was $0.07, exceeding the consensus estimate of $0.04 by $0.03. Despite this, the company has faced a negative net margin of 5.79%, though it maintained a positive return on equity of 3.96%. Analysts are forecasting that Varex Imaging will report an EPS of 0.63 for the current fiscal year.

Recent Analyst Ratings

Recent evaluations by analysts have shown mixed reactions towards Varex Imaging. StockNews.com upgraded its rating from a "hold" to a "buy" on February 7th. B. Riley reaffirmed a "buy" rating while raising its price target for the stock from $21.00 to $22.00 in the same report. Conversely, Oppenheimer lowered its price target for Varex Imaging from $30.00 to $23.00, also assigning an "outperform" rating for the company.

About Varex Imaging

Varex Imaging Corporation is involved in the design, manufacturing, and selling of X-ray imaging components. The company divides its operations into two segments: Medical and Industrial. The Medical segment is responsible for various products including X-ray tubes, digital detectors, and other essential components used in X-ray imaging.

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