Inspire Advisors LLC Grows Stock Holdings in Varex Imaging Co. (NASDAQ:VREX)

Inspire Advisors LLC raised its position in shares of Varex Imaging Co. (NASDAQ:VREX) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,334 shares of the company’s stock after buying an additional 3,185 shares during the quarter. Inspire Advisors LLC’s holdings in Varex Imaging were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VREX. Empowered Funds LLC lifted its position in shares of Varex Imaging by 5.3% during the third quarter. Empowered Funds LLC now owns 158,873 shares of the company’s stock valued at $1,894,000 after buying an additional 8,040 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Varex Imaging during the third quarter valued at about $41,000. LMR Partners LLP purchased a new stake in shares of Varex Imaging during the third quarter valued at about $243,000. Factorial Partners LLC purchased a new stake in shares of Varex Imaging during the third quarter valued at about $399,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Varex Imaging during the third quarter valued at about $312,000.

Varex Imaging Stock Performance

VREX opened at $12.55 on Thursday. Varex Imaging Co. has a 52-week low of $10.19 and a 52-week high of $18.30. The company has a quick ratio of 2.50, a current ratio of 4.36 and a debt-to-equity ratio of 1.02. The company has a market cap of $517.06 million, a P/E ratio of -10.73 and a beta of 0.56. The firm’s 50-day moving average price is $13.46 and its 200-day moving average price is $13.40.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate 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%. As a group, equities analysts anticipate that Varex Imaging Co. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on VREX shares. StockNews.com raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. B. Riley restated a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of Varex Imaging in a report on Friday, February 7th. Finally, Oppenheimer cut their price objective 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.

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.