Varex Imaging Surges After Agreeing to $18.90-Per-Share Teledyne Buyout

Varex Imaging (VREX) is up 48.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The biggest driver appears to be Varex’s agreement to be acquired by Teledyne in an all-cash deal priced at $18.90 per share, which gives investors a clear takeover value near the stock’s trading level. The move was likely reinforced by Varex also posting solid third-quarter fiscal 2026 results, including year-over-year revenue growth, stronger margins, and improved earnings.

Details:

Varex and Teledyne announced a definitive merger agreement on August 10, 2026 under which Teledyne will acquire all outstanding Varex shares for $18.90 in cash.

The companies said the transaction carries an aggregate value of about $1.1 billion and has already been approved by both boards.

Varex reported third-quarter revenue of $211 million, up 4% from a year earlier, with non-GAAP earnings of $0.31 per diluted share versus $0.13 in the prior-year quarter.

Varex said the quarter also benefited from tariff-related refunds and noted it canceled its earnings call and will not provide guidance while the transaction is pending.

Sources:

Varex Imaging, SEC, Teledyne

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$VREX Insider Trading Activity

$VREX insiders have traded $VREX stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $VREX stock by insiders over the last 6 months:

JAY K. KUNKEL sold 4,510 shares for an estimated $50,241

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$VREX Hedge Fund Activity

We have seen 86 institutional investors add shares of $VREX stock to their portfolio, and 74 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MEDINA VALUE PARTNERS, LLC added 1,241,238 shares (+inf%) to their portfolio in Q1 2026, for an estimated $13,169,535
NEUBERGER BERMAN GROUP LLC added 439,446 shares (+29.6%) to their portfolio in Q1 2026, for an estimated $4,662,522
ASSENAGON ASSET MANAGEMENT S.A. removed 372,475 shares (-80.6%) from their portfolio in Q2 2026, for an estimated $3,884,914
PZENA INVESTMENT MANAGEMENT LLC added 352,101 shares (+8.8%) to their portfolio in Q2 2026, for an estimated $3,672,413
COOKE & BIELER LP removed 303,861 shares (-23.3%) from their portfolio in Q2 2026, for an estimated $3,169,270
ESSEX INVESTMENT MANAGEMENT CO LLC removed 279,551 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $2,915,716
MILLENNIUM MANAGEMENT LLC removed 222,962 shares (-66.2%) from their portfolio in Q1 2026, for an estimated $2,365,626

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$VREX Government Contracts

We have seen $6,800,576 of award payments to $VREX over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

PREVENTATIVE AND CORRECTIVE MAINTENANCE OF RADIATION DETECTION EQUIPMENT (RDE) AND LARGE SCALE (LS) NON- IN...: $6,315,801
BASE YEAR - MAINT/REPAIR: $262,890

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.