Varex Imaging Corporation is a leading innovator, designer and manufacturer of X-ray imaging components, which include X-ray tubes, digital detectors and other image processing solutions that are key components of X-ray imaging systems. With a 70+ year history of successful innovation, Varex's products are used in medical imaging as well as a number of industrial applications. Global OEM manufacturers incorporate Varex's X-ray sources, digital detectors, connecting devices and imaging software in their systems to detect, diagnose, protect and inspect. Headquartered in Salt Lake City, Utah, Varex employs approximately 2,000 people located in North America, Europe, and Asia.
Company profile
Ticker
VREX
Exchange
Website
CEO
Sunny Sanyal
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
3901 Carnation Street, LLC • Direct Conversion AB • Direct Conversion GmbH • Direct Conversion Ltd • Irradiation Systems, LLC • MeVis Medical Solutions AG • Oy Direct Conversion Ltd. • Varex Imaging Americas Corporation • Varex Imaging Arabia, LLC • Varex Imagens Brasil, Ltda. ...
VREX stock data
Latest filings (excl ownership)
8-K
Submission of Matters to a Vote of Security Holders
10 Feb 23
10-Q
2023 Q1
Quarterly report
31 Jan 23
8-K
Varex Announces Financial Results for First Quarter Fiscal Year 2023
31 Jan 23
8-K
Departure of Directors or Certain Officers
10 Jan 23
DEFA14A
Additional proxy soliciting materials
28 Dec 22
DEF 14A
Definitive proxy
28 Dec 22
10-K
2022 FY
Annual report
18 Nov 22
8-K
Varex Announces Financial Results for Fourth Quarter and Fiscal Year 2022
15 Nov 22
8-K/A
Departure of Directors or Certain Officers
19 Aug 22
10-Q
2022 Q3
Quarterly report
3 Aug 22
Transcripts
VREX
Earnings call transcript
2023 Q1
31 Jan 23
VREX
Earnings call transcript
2022 Q4
16 Nov 22
VREX
Earnings call transcript
2022 Q3
3 Aug 22
VREX
Earnings call transcript
2022 Q2
9 May 22
VREX
Earnings call transcript
2022 Q1
9 Feb 22
VREX
Earnings call transcript
2021 Q4
17 Nov 21
VREX
Earnings call transcript
2021 Q3
4 Aug 21
VREX
Earnings call transcript
2021 Q1
5 May 21
VREX
Earnings call transcript
2021 Q1
5 Feb 21
VREX
Earnings call transcript
2020 Q4
17 Nov 20
Latest ownership filings
4
SUNNY SANYAL
17 Feb 23
4
Andrew Hartmann
17 Feb 23
4
Brian W Giambattista
17 Feb 23
4
Mark S. Jonaitis
17 Feb 23
4
Kimberley E. Honeysett
17 Feb 23
SC 13G
SHAPIRO CAPITAL MANAGEMENT LLC
14 Feb 23
4
CHRISTINE A TSINGOS
13 Feb 23
4
Walter M Rosebrough Jr
13 Feb 23
4
Kathleen Bardwell
13 Feb 23
4
Jocelyn D Chertoff
13 Feb 23
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jul 22 | Apr 22 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Sep 22 | Oct 21 | Oct 20 | Sep 19 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 82.80 mm | 82.80 mm | 82.80 mm | 82.80 mm | 82.80 mm | 82.80 mm |
| Cash burn (monthly) | 2.60 mm | 6.37 mm | (no burn) | (no burn) | 1.23 mm | (no burn) |
| Cash used (since last report) | 7.99 mm | 19.56 mm | n/a | n/a | 3.79 mm | n/a |
| Cash remaining | 74.81 mm | 63.24 mm | n/a | n/a | 79.01 mm | n/a |
| Runway (months of cash) | 28.8 | 9.9 | n/a | n/a | 64.1 | n/a |
Institutional ownership, Q4 2022
62.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 165 |
| Opened positions | 20 |
| Closed positions | 25 |
| Increased positions | 53 |
| Reduced positions | 59 |
| 13F shares | Current |
|---|---|
| Total value | 776.87 bn |
| Total shares | 40.86 mm |
| Total puts | 1.20 k |
| Total calls | 2.30 k |
| Total put/call ratio | 0.5 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 7.58 mm | $153.83 bn |
| Vanguard | 4.61 mm | $93.59 bn |
| Allspring Global Investments | 2.81 mm | $57.14 bn |
| JHG Janus Henderson | 2.05 mm | $41.52 bn |
| STT State Street | 2.02 mm | $41.06 bn |
| Dimensional Fund Advisors | 1.99 mm | $40.37 mm |
| Cooke & Bieler | 1.82 mm | $36.92 bn |
| Frontier Capital Management | 1.82 mm | $36.85 bn |
| Alecta Pensionsforsakring, Omsesidigt | 1.79 mm | $36.25 bn |
| Pzena Investment Management | 1.19 mm | $24.16 bn |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 15 Feb 23 | Kimberley E. Honeysett | Common Stock | Payment of exercise | Dispose F | No | No | 18.82 | 3,480 | 65.49 k | 8,570 |
| 15 Feb 23 | Kimberley E. Honeysett | Common Stock | Option exercise | Acquire M | No | No | 0 | 5,761 | 0.00 | 12,050 |
| 15 Feb 23 | Kimberley E. Honeysett | Common Stock | Option exercise | Acquire M | No | No | 0 | 1,397 | 0.00 | 6,289 |
| 15 Feb 23 | Kimberley E. Honeysett | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 5,761 | 0.00 | 5,762 |
| 15 Feb 23 | Kimberley E. Honeysett | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 1,397 | 0.00 | 0 |
| 15 Feb 23 | Mark S. Jonaitis | Common Stock | Payment of exercise | Dispose F | No | No | 18.82 | 3,461 | 65.14 k | 54,042 |
| 15 Feb 23 | Mark S. Jonaitis | Common Stock | Option exercise | Acquire M | No | No | 0 | 5,761 | 0.00 | 57,503 |
| 15 Feb 23 | Mark S. Jonaitis | Common Stock | Option exercise | Acquire M | No | No | 0 | 1,354 | 0.00 | 51,742 |
| 15 Feb 23 | Mark S. Jonaitis | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 5,761 | 0.00 | 5,762 |
| 15 Feb 23 | Mark S. Jonaitis | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 1,354 | 0.00 | 0 |
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