Varex Imaging (VREX)

• Market cap: $482M
• 1 day: -1.89%
• 5 days: 3.92%
• 1 month: 45.22%
• 3 months: 45.59%
• 6 months: -12.91%
• Year to date: -20.89%
• 1 year: -6.86%
• 5 years: -6.25%
• 10 years: -58.20%
• Sector: Healthcare
• Industry: Medical Devices

About: Varex Imaging Corp designs and manufactures X-ray imaging components. It operates in two segments Medical and Industrial. The Medical segment, which is the key revenue driver, designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, digital detectors and accessories, generators, and heat exchangers among other products. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors, high-voltage connectors, and coolers. Geographically, the company generates maximum revenue from Europe, Middle East, and Africa (EMEA) and the rest from the Americas and Asia Pacific region.

Employees: 2,300

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

33% more repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 52

0.14% less ownership

Funds ownership: 93.28% [Q1] → 93.13% (-0.14%) [Q2]

15% less funds holding

Funds holding: 188 [Q1] → 160 (-28) [Q2]

25% less capital invested

Capital invested by funds: $445M [Q1] → $332M (-$113M) [Q2]

56% less first-time investments, than exits

New positions opened: 20 | Existing positions closed: 45

98% less call options, than puts

Call options by funds: $111K | Put options by funds: $4.87M

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $16 40% upside
• Avg. target: $16 40% upside
• High target: $16 40% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

B. Riley Securities Kyle Bauser

40% upside $16

Buy Maintained

8 Aug 2025