CNA Financial Corp Increases Position in Varex Imaging Corp (NASDAQ:VREX)

CNA Financial Corp lifted its holdings in Varex Imaging Corp (NASDAQ:VREX) by 25.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,440 shares of the company’s stock after purchasing an additional 8,116 shares during the period. CNA Financial Corp owned about 0.10% of Varex Imaging worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Scout Investments Inc. increased its stake in Varex Imaging by 75.1% during the 2nd quarter. Scout Investments Inc. now owns 152,280 shares of the company’s stock worth $4,667,000 after buying an additional 65,332 shares in the last quarter. First Hawaiian Bank grew its position in shares of Varex Imaging by 13.4% in the second quarter. First Hawaiian Bank now owns 13,662 shares of the company’s stock valued at $419,000 after purchasing an additional 1,611 shares in the last quarter. CWM Advisors LLC grew its position in shares of Varex Imaging by 15.8% in the second quarter. CWM Advisors LLC now owns 7,310 shares of the company’s stock valued at $224,000 after purchasing an additional 996 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Varex Imaging by 28.5% in the second quarter. Bessemer Group Inc. now owns 24,600 shares of the company’s stock valued at $754,000 after purchasing an additional 5,459 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Varex Imaging by 0.9% in the second quarter. Confluence Investment Management LLC now owns 163,972 shares of the company’s stock valued at $5,026,000 after purchasing an additional 1,421 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

VREX has been the subject of a number of analyst reports. Zacks Investment Research restated a “hold” rating on shares of Varex Imaging in a research report on Saturday, October 19th. BidaskClub upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Northland Securities restated a “buy” rating and issued a $42.00 price target on shares of Varex Imaging in a research report on Wednesday, August 7th. ValuEngine lowered Varex Imaging from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group set a $31.00 price target on Varex Imaging and gave the company a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Varex Imaging currently has a consensus rating of “Buy” and an average target price of $35.17.

VREX traded down $3.67 during trading hours on Wednesday, reaching $29.00. The company’s stock had a trading volume of 8,475 shares, compared to its average volume of 256,483. Varex Imaging Corp has a fifty-two week low of $21.57 and a fifty-two week high of $35.00. The stock has a market cap of $1.25 billion, a PE ratio of 22.31, a P/E/G ratio of 3.00 and a beta of 1.90. The business’s 50-day moving average is $29.41 and its 200-day moving average is $29.22. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.58 and a quick ratio of 1.04.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates of $0.46. Varex Imaging had a return on equity of 10.01% and a net margin of 0.97%. The firm had revenue of $202.40 million for the quarter, compared to analysts’ expectations of $204.14 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Analysts expect that Varex Imaging Corp will post 1.3 EPS for the current year.

In related news, CFO Clarence R. Verhoef sold 21,047 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.94, for a total value of $609,100.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mark S. Jonaitis sold 13,530 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $31.02, for a total value of $419,700.60. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

About Varex Imaging

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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Institutional Ownership by Quarter for Varex Imaging (NASDAQ:VREX)

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