TIAA CREF Investment Management LLC Reduces Stake in Varex Imaging (VREX)

TIAA CREF Investment Management LLC lessened its holdings in shares of Varex Imaging (NASDAQ:VREX) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,242 shares of the company’s stock after selling 34,604 shares during the period. TIAA CREF Investment Management LLC owned 0.26% of Varex Imaging worth $3,987,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cooke & Bieler LP boosted its stake in Varex Imaging by 366.8% in the 4th quarter. Cooke & Bieler LP now owns 375,151 shares of the company’s stock worth $15,070,000 after purchasing an additional 294,777 shares in the last quarter. APG Asset Management N.V. boosted its stake in Varex Imaging by 324.1% in the 4th quarter. APG Asset Management N.V. now owns 335,024 shares of the company’s stock worth $11,207,000 after purchasing an additional 256,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Varex Imaging by 92.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 514,898 shares of the company’s stock worth $17,424,000 after purchasing an additional 247,229 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Varex Imaging by 123.1% in the 4th quarter. Renaissance Technologies LLC now owns 431,500 shares of the company’s stock worth $17,333,000 after purchasing an additional 238,100 shares in the last quarter. Finally, Earnest Partners LLC bought a new position in Varex Imaging in the 4th quarter worth about $7,832,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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Shares of Varex Imaging stock opened at $36.62 on Monday. The company has a current ratio of 3.25, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $1,382.70, a P/E ratio of 20.34, a PEG ratio of 1.96 and a beta of 2.47. Varex Imaging has a 1 year low of $27.80 and a 1 year high of $43.76.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Thursday, February 1st. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.17). The company had revenue of $176.20 million for the quarter, compared to the consensus estimate of $194.00 million. Varex Imaging had a net margin of 7.24% and a return on equity of 16.90%. Varex Imaging’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. analysts expect that Varex Imaging will post 1.87 earnings per share for the current fiscal year.

VREX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Sidoti initiated coverage on shares of Varex Imaging in a research note on Thursday. They issued a “neutral” rating on the stock.

In other Varex Imaging news, SVP Kimberley E. Honeysett sold 2,000 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $37.68, for a total transaction of $75,360.00. Following the transaction, the senior vice president now owns 916 shares in the company, valued at approximately $34,514.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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Varex Imaging Company Profile

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 flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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Institutional Ownership by Quarter for Varex Imaging (NASDAQ:VREX)

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