Varex Imaging Co. (NASDAQ:VREX) Short Interest Down 17.4% in February

Varex Imaging Co. (NASDAQ:VREX) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 966,300 shares, a decrease of 17.4% from the February 13th total of 1,170,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 511,600 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VREX. B. Riley reissued a “buy” rating and issued a $22.00 price target (up from $21.00) on shares of Varex Imaging in a report on Friday, February 7th. StockNews.com raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Finally, Oppenheimer lowered their price target on shares of Varex Imaging from $30.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, February 7th.

Varex Imaging Stock Performance

Shares of NASDAQ:VREX opened at $12.82 on Tuesday. The company’s 50 day moving average price is $13.35 and its two-hundred day moving average price is $13.42. Varex Imaging has a 12-month low of $10.19 and a 12-month high of $18.30. The firm has a market cap of $528.18 million, a PE ratio of -10.96 and a beta of 0.56. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 4.00%. Equities research analysts predict that Varex Imaging will post 0.53 earnings per share for the current year.

Institutional Trading of Varex Imaging

Several large investors have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new stake in Varex Imaging in the fourth quarter valued at approximately $25,000. Quest Partners LLC acquired a new stake in Varex Imaging in the third quarter valued at approximately $41,000. Quadrant Capital Group LLC boosted its position in Varex Imaging by 115.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after buying an additional 1,520 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Varex Imaging in the fourth quarter valued at approximately $48,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Varex Imaging in the fourth quarter valued at approximately $98,000.

About Varex Imaging

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.