Varex Imaging (NASDAQ:VREX) Shares Down 3.5% – Here’s What Happened

Varex Imaging Co. (NASDAQ:VREX)’s stock price was down 3.5% during mid-day trading on Friday . The stock traded as low as $15.84 and last traded at $15.93. Approximately 55,958 shares changed hands during trading, a decline of 89% from the average daily volume of 497,709 shares. The stock had previously closed at $16.51.

Analysts Set New Price Targets

Separately, B. Riley started coverage on Varex Imaging in a report on Friday, August 23rd. They set a “buy” rating and a $21.00 price objective for the company.

Varex Imaging Stock Performance

The company has a current ratio of 3.34, a quick ratio of 1.89 and a debt-to-equity ratio of 0.67. The company’s 50-day simple moving average is $12.60 and its 200 day simple moving average is $13.49.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds have recently bought and sold shares of the business. Creative Planning increased its position in Varex Imaging by 9.2% during the third quarter. Creative Planning now owns 19,644 shares of the company’s stock worth $234,000 after buying an additional 1,654 shares during the last quarter. Innealta Capital LLC acquired a new position in Varex Imaging during the second quarter worth $26,000. Intech Investment Management LLC boosted its holdings in Varex Imaging by 13.7% during the third quarter. Intech Investment Management LLC now owns 16,267 shares of the company’s stock valued at $194,000 after acquiring an additional 1,959 shares during the period. Isthmus Partners LLC grew its position in shares of Varex Imaging by 1.2% in the second quarter. Isthmus Partners LLC now owns 172,022 shares of the company’s stock valued at $2,534,000 after purchasing an additional 2,058 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Varex Imaging by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 359,937 shares of the company’s stock worth $5,302,000 after purchasing an additional 2,250 shares during the period.

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.