Varex Imaging (NASDAQ:VREX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Varex Imaging Price Performance

Shares of VREX stock opened at $13.85 on Thursday. The stock has a 50 day moving average price of $14.93 and a 200 day moving average price of $13.47. 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 firm has a market capitalization of $571.05 million, a P/E ratio of -11.84 and a beta of 0.63.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in Varex Imaging by 4,739.2% in the 3rd quarter. FMR LLC now owns 200,341 shares of the company’s stock valued at $2,388,000 after buying an additional 196,201 shares during the period. Barclays PLC boosted its holdings in shares of Varex Imaging by 15.3% in the third quarter. Barclays PLC now owns 97,883 shares of the company’s stock valued at $1,166,000 after purchasing an additional 12,966 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Varex Imaging by 37.3% in the third quarter. Assenagon Asset Management S.A. now owns 185,506 shares of the company’s stock valued at $2,211,000 after purchasing an additional 50,382 shares during the period. Point72 Asset Management L.P. bought a new position in Varex Imaging in the third quarter worth approximately $415,000. Finally, BNP Paribas Financial Markets raised its position in Varex Imaging by 1,359.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,295 shares of the company’s stock valued at $623,000 after purchasing an additional 48,713 shares in the last quarter.

Varex Imaging Company Profile

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.