Varex Imaging Co. Sees 17.4% Decrease in Short Interest for February

Varex Imaging Co. (NASDAQ:VREX) experienced a notable decline in short interest during the month of February. As of February 28th, the total short interest was 966,300 shares, reflecting a significant drop of 17.4% from the 1,170,000 shares reported on February 13th. Currently, approximately 2.5% of the company's stock is sold short. Based on an average daily trading volume of 511,600 shares, the days-to-cover ratio stands at 1.9 days.

Analyst Ratings for Varex Imaging

Several research firms have recently provided updates on Varex Imaging. On February 7th, B. Riley reaffirmed a "buy" rating on the stock and raised their price target to $22.00, up from $21.00. Similarly, StockNews.com upgraded Varex Imaging from a "hold" rating to a "buy" rating on the same date. In contrast, Oppenheimer revised its price target downward from $30.00 to $23.00, while maintaining an "outperform" rating on the shares.

Varex Imaging Stock Overview

On Tuesday, shares of NASDAQ:VREX opened at $12.82. The stock's 50-day moving average price is $13.35, and the 200-day moving average is $13.42. Over the past year, Varex Imaging has recorded a low of $10.19 and a high of $18.30. The company's market capitalization is approximately $528.18 million, with a PE ratio of -10.96 and a beta of 0.56. Varex Imaging has strong liquidity, evidenced by a quick ratio of 2.50, a current ratio of 4.36, and a debt-to-equity ratio of 1.02.

Varex Imaging announced its last earnings results on February 6th, reporting earnings of $0.07 per share, exceeding analysts' expectations of $0.04 by $0.03. Despite a negative net margin of 5.79%, the company achieved a positive return on equity of 4.00%. Analysts predict that Varex Imaging will report earnings of $0.53 per share for the current year.

Institutional Investments in Varex Imaging

Several institutional investors have adjusted their positions in Varex Imaging recently. In the fourth quarter, Aquatic Capital Management LLC purchased a new stake valued at around $25,000. Quest Partners LLC also entered a new position in the third quarter, valued at approximately $41,000. Quadrant Capital Group LLC increased its stake by 115.4% during the fourth quarter, now owning 2,837 shares worth $41,000 after purchasing an additional 1,520 shares. Point72 Hong Kong Ltd acquired a new stake valued at about $48,000, while KLP Kapitalforvaltning AS purchased shares worth approximately $98,000 during the same timeframe.

About Varex Imaging Corporation

Varex Imaging Corporation specializes in designing, manufacturing, and selling components for X-ray imaging. The company operates through two segments: Medical and Industrial. The Medical segment focuses on the design, manufacture, sale, and service of X-ray imaging components such as X-ray tubes, digital detectors, and a variety of accessories and software for medical imaging applications.

Varex, Imaging, Stocks