Varex Imaging (NASDAQ:VREX) Downgraded to Hold Rating by StockNews.com

Varex Imaging (NASDAQ:VREX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Varex Imaging Price Performance

NASDAQ:VREX traded down $0.33 during trading hours on Thursday, hitting $13.85. The company’s stock had a trading volume of 385,231 shares, compared to its average volume of 397,066. Varex Imaging has a 52-week low of $10.19 and a 52-week high of $21.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.97 and a current ratio of 3.32. The business’s 50-day moving average is $14.93 and its two-hundred day moving average is $13.47. The company has a market capitalization of $571.05 million, a PE ratio of -11.84 and a beta of 0.63.

Institutional Investors Weigh In On Varex Imaging

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in Varex Imaging during the 3rd quarter valued at $19,801,000. Pzena Investment Management LLC boosted its stake in shares of Varex Imaging by 51.4% during the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company’s stock valued at $46,379,000 after acquiring an additional 1,321,666 shares during the last quarter. Jane Street Group LLC increased its position in Varex Imaging by 230.6% during the 3rd quarter. Jane Street Group LLC now owns 551,157 shares of the company’s stock worth $6,570,000 after purchasing an additional 384,448 shares in the last quarter. Weiss Asset Management LP acquired a new position in Varex Imaging in the 3rd quarter valued at about $2,593,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Varex Imaging in the 3rd quarter valued at about $2,411,000.

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.