Cubist Systematic Strategies LLC Has $1.19 Million Stake in Varex Imaging Co. (NASDAQ:VREX)

Cubist Systematic Strategies LLC decreased its position in Varex Imaging Co. (NASDAQ:VREX) by 56.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 81,808 shares of the company’s stock after selling 107,244 shares during the period. Cubist Systematic Strategies LLC owned about 0.20% of Varex Imaging worth $1,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in Varex Imaging in the 4th quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in Varex Imaging by 115.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock worth $41,000 after buying an additional 1,520 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Varex Imaging in the 4th quarter worth approximately $98,000. US Bancorp DE lifted its position in Varex Imaging by 149.8% in the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock worth $108,000 after buying an additional 4,429 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in Varex Imaging by 60.7% in the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company’s stock worth $139,000 after buying an additional 3,600 shares in the last quarter.

Insider Activity

In other news, SVP Kimberley E. Honeysett sold 4,007 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.81, for a total transaction of $51,329.67. Following the transaction, the senior vice president now owns 4,002 shares in the company, valued at approximately $51,265.62. This trade represents a 50.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sunny Sanyal sold 8,749 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $11.24, for a total transaction of $98,338.76. Following the transaction, the chief executive officer now owns 190,193 shares in the company, valued at $2,137,769.32. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Varex Imaging Stock Down 0.3%

Varex Imaging stock opened at $7.50 on Wednesday. The company has a market capitalization of $309 million, a P/E ratio of -6.41 and a beta of 0.62. The firm’s fifty day simple moving average is $9.66 and its 200-day simple moving average is $12.64. The company has a current ratio of 4.36, a quick ratio of 2.50 and a debt-to-equity ratio of 1.02. Varex Imaging Co. has a 1-year low of $6.76 and a 1-year high of $16.93.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $212.90 million for the quarter, compared to the consensus estimate of $206.76 million. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. Varex Imaging’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Sell-side analysts forecast that Varex Imaging Co. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VREX has been the subject of a number of research analyst reports. B. Riley upgraded shares of Varex Imaging to a “strong-buy” rating in a research report on Monday. Oppenheimer cut their target price on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Friday, February 7th.

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.