Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Varex Imaging $VREX

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Varex Imaging (NASDAQ:VREX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 293,435 shares of the company’s stock, valued at approximately $3,061,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.70% of Varex Imaging at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new stake in shares of Varex Imaging in the 4th quarter worth approximately $27,000. Quarry LP acquired a new position in Varex Imaging during the third quarter worth $64,000. BNP Paribas Financial Markets raised its holdings in Varex Imaging by 18.5% during the second quarter. BNP Paribas Financial Markets now owns 13,045 shares of the company’s stock worth $113,000 after purchasing an additional 2,036 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Varex Imaging during the third quarter worth $117,000. Finally, Cerity Partners LLC purchased a new stake in Varex Imaging during the second quarter worth $123,000.

Varex Imaging Stock Up 0.1%

Shares of NASDAQ:VREX opened at $18.50 on Friday. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $778.85 million, a P/E ratio of 35.58 and a beta of 0.89. Varex Imaging has a 52-week low of $9.09 and a 52-week high of $18.63. The stock’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $12.00.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $215.50 million. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. As a group, equities research analysts forecast that Varex Imaging will post 0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VREX shares. Wall Street Zen upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Sidoti restated a “neutral” rating and set a $19.00 target price on shares of Varex Imaging in a research report on Monday, August 10th. B. Riley Financial cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Varex Imaging from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Oppenheimer lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.88.

About Varex Imaging

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.