Insider Selling at Varex Imaging Co.

On March 20th, 2023, Kimberley E. Honeysett, the Senior Vice President of Varex Imaging Co. (NASDAQ:VREX - Get Free Report), sold 4,007 shares of the company's stock. The shares were sold at an average price of $12.81, amounting to a total of $51,329.67. After this transaction, Honeysett holds 4,002 shares valued at approximately $51,265.62. This sale represents a significant reduction in her stake, decreasing by 50.03%. The transaction was formally disclosed in a filing with the Securities and Exchange Commission (SEC), which is accessible via the appropriate channels.

Varex Imaging Stock Performance

Following the news of the insider sell, Varex Imaging's stock saw a decline of 2.3%. On the day after the sale, shares dropped by $0.29 to reach $12.57. During this trading period, 397,419 shares changed hands, a notable amount compared to the average trading volume of 526,012. Over the past year, Varex Imaging stock has fluctuated between a low of $10.19 and a high of $18.30. The company currently has a market capitalization of $517.88 million and a P/E ratio of -10.74. Its beta stands at 0.56, indicating lower volatility compared to the market. Financial ratios show a quick ratio of 2.50 and a current ratio of 4.36, with a debt-to-equity ratio of 1.02. The 50-day simple moving average is $13.29, while the 200-day simple moving average is $13.41.

Quarterly Earnings Overview

Varex Imaging disclosed its quarterly earnings data on February 6th, reporting an earnings per share (EPS) of $0.07, exceeding analysts' expectations of $0.04 by $0.03. The company recorded a negative net margin of 5.79% but achieved a positive return on equity of 4.00%. Analysts predict Varex Imaging will report earnings of $0.53 per share for the current fiscal year.

Updated Analyst Ratings and Price Targets

In light of recent performance, various analysts have adjusted their recommendations regarding Varex Imaging shares. StockNews.com upgraded its rating from 'hold' to 'buy' on February 7th. B. Riley maintained a 'buy' rating and raised the price target from $21.00 to $22.00. Conversely, Oppenheimer reduced its price target from $30.00 to $23.00, while still advising an 'outperform' rating for the stock.

Institutional Investors and Hedge Fund Activities

A number of institutional and hedge fund investors have recently changed their positions in Varex Imaging. Aquatic Capital Management LLC entered a new position worth $25,000 in Q4. Likewise, Quest Partners LLC acquired a new stake valued at approximately $41,000 in the third quarter. Quadrant Capital Group LLC increased its holdings by 115.4% during the fourth quarter, now owning 2,837 shares valued at $41,000 after an additional purchase of 1,520 shares. Other investors included Point72 Hong Kong Ltd with an estimated investment of $48,000 and KLP Kapitalforvaltning AS with about $98,000 in shares purchased during the fourth quarter.

About Varex Imaging Corporation

Varex Imaging Corporation specializes in the design, manufacture, and sale of X-ray imaging components. The company operates in two main segments: Medical and Industrial. The Medical segment focuses on developing products like X-ray tubes, digital detectors, and various accessories. Other offerings include ionization chambers, high voltage connectors, software for image processing, and devices such as collimators and exposure control systems.

insider, selling, stocks, management, analysis