Varex Imaging (NASDAQ:VREX – Get Rating) posted its quarterly earnings data on Tuesday. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.16, Fidelity Earnings reports. Varex Imaging had a return on equity of 10.32% and a net margin of 3.03%. During the same period in the previous year, the business earned $0.40 earnings per share. Varex Imaging updated its Q4 2022 guidance to $0.25-$0.45 EPS and its Q4 guidance to $0.25 to $0.45 EPS.
Varex Imaging Stock Performance
Shares of VREX traded down $0.45 during mid-day trading on Thursday, hitting $21.43. The company's stock had a trading volume of 395,274 shares, compared to its average volume of 350,577. Varex Imaging has a one year low of $18.90 and a one year high of $32.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.80 and a current ratio of 3.41. The firm has a market capitalization of $852.91 million, a PE ratio of 35.13, a price-to-earnings-growth ratio of 6.68 and a beta of 0.88. The stock's 50-day moving average is $21.68 and its two-hundred day moving average is $22.56.
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Insider Activity
In related news, Director Ruediger Naumann-Etienne sold 5,207 shares of the firm's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $22.62, for a total value of $117,782.34. Following the completion of the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $596,602.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in shares of Varex Imaging by 14.2% during the first quarter. Jane Street Group LLC now owns 10,270 shares of the company's stock valued at $218,000 after acquiring an additional 1,278 shares during the period. Lido Advisors LLC bought a new position in shares of Varex Imaging during the first quarter valued at $331,000. Point72 Hong Kong Ltd bought a new position in shares of Varex Imaging during the first quarter valued at $46,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Varex Imaging during the first quarter valued at $330,000. Finally, State Street Corp lifted its holdings in shares of Varex Imaging by 5.5% during the first quarter. State Street Corp now owns 1,926,525 shares of the company's stock valued at $41,016,000 after acquiring an additional 100,530 shares during the period.
Varex Imaging Company Profile
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Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys.
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