Varex Imaging (NASDAQ:VREX) Receives Downgrade from StockNews.com

Varex Imaging Corporation, traded under the ticker symbol VREX on NASDAQ, has recently been downgraded by analysts at StockNews.com. On Thursday, they changed their rating from "buy" to "hold," advising investors to exercise caution regarding their investments in the company.

Performance of Varex Imaging Shares

On the trading day of the downgrade, shares of VREX slipped by $0.33, bringing the price down to $13.85. During this period, a total of 385,231 shares changed hands, which is slightly lower than the average trading volume of 397,066 shares. Varex Imaging has displayed financial metrics that include a quick ratio of 1.97, a current ratio of 3.32, and a debt-to-equity ratio of 0.72. Over the past year, the stock's price has ranged from a low of $10.19 to a high of $21.06. As of now, its fifty-day moving average stands at $14.93, while the 200-day moving average is $13.47. The company boasts a market capitalization of approximately $571.05 million and has a price-to-earnings (PE) ratio of -11.84, with a beta value of 0.63.

Recent Activities of Institutional Investors

Several institutional investors have recently adjusted their stakes in Varex Imaging, showing a shift in confidence among large investors. Barclays PLC reported a 15.3% increase in its holdings during the third quarter, acquiring an additional 12,966 shares to bring their total to 97,883 shares valued at about $1,166,000. Geode Capital Management LLC also raised its position by 0.5%, ending up with 929,004 shares worth $11,076,000 after purchasing an extra 4,211 shares. Meanwhile, the Public Employees Retirement System of Ohio significantly increased its holdings by a staggering 3,650.1%, now owning 35,251 shares worth $420,000 following an acquisition of 34,311 additional shares. Other institutional movements include Y Intercept Hong Kong Ltd acquiring a new stake valued at about $204,000 and XTX Topco Ltd purchasing a new position worth approximately $785,000.

About Varex Imaging

Varex Imaging Corporation is engaged in the design, manufacture, and sale of X-ray imaging components. The company operates through two primary segments: Medical and Industrial. The Medical segment focuses on creating various X-ray imaging components including X-ray tubes, digital detectors, ionization chambers, high voltage connectors, image-processing software, 3D reconstruction software, and more. This diversity of products demonstrates Varex's commitment to advancing imaging technology.

Key Insights

The recent downgrade by StockNews.com serves as a reminder of the volatility that can accompany stock investments. Investors should weigh this information carefully against their financial strategy and market conditions. With ongoing changes in the market and shifting analyst opinions, keeping a close eye on Varex Imaging could prove beneficial.

Varex, Imaging, Stocks