SCHEDULE 13G/A: BlackRock Discloses 8.2% Passive Stake in Varex Imaging Corp
Beneficial Ownership Disclosure
BlackRock, Inc. has filed an amended Schedule 13G, reporting a passive beneficial ownership of 8.2% in Varex Imaging Corp's common stock as of March 31, 2025.
Summary
- BlackRock, Inc. reported beneficial ownership of 3,364,703 shares of Varex Imaging Corp common stock.
- This ownership represents 8.2% of the total outstanding common stock of Varex Imaging Corp.
- BlackRock holds sole voting power over 3,288,590 shares and sole dispositive power over 3,364,703 shares.
- The filing is an Amendment No. 5 to a Schedule 13G, indicating a routine update to a previously disclosed passive investment position.
- BlackRock certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Varex Imaging Corp.
Sentiment
Score: 5
Explanation: The document is a factual, compliance-oriented filing disclosing a passive ownership stake. It contains no subjective language or performance-related information that would indicate a positive or negative sentiment regarding the issuer.
Positives
- The document is a routine compliance filing and does not contain specific positive information regarding Varex Imaging Corp's financial performance or business operations.
Negatives
- The document is a routine compliance filing and does not contain specific negative information regarding Varex Imaging Corp's financial performance or business operations.
Risks
- The document is a routine compliance filing and does not detail specific risks related to Varex Imaging Corp's business or operations. BlackRock's certification states the shares are not held for the purpose of changing or influencing control of the issuer, mitigating a potential control-related risk.
Future Outlook
This Schedule 13G filing is a disclosure of current ownership and does not contain forward-looking statements or guidance regarding Varex Imaging Corp's future performance or outlook.
Management Comments
- BlackRock, Inc. certified that, to the best of its knowledge and belief, the securities were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.
Industry Context
This filing is a routine disclosure of an institutional investor's passive ownership stake in a publicly traded company. It does not provide broader industry trends or competitive analysis.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-Fact | N/A (previous Power of Attorney revoked) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | New Power of Attorney issued by BlackRock, Inc., revoking a prior one dated April 30, 2023, to authorize individuals to execute SEC filings on its behalf. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Internal Policy/Authorization | BlackRock, Inc. executed a new Power of Attorney, effective January 21, 2025, authorizing specific individuals to act as attorneys-in-fact for executing and filing various ownership and control-person reporting documents with governmental and regulatory authorities, including the SEC. This document revokes a previous Power of Attorney dated April 30, 2023. | 2025-01-21 | This change streamlines BlackRock's internal process for compliance with ownership reporting requirements, ensuring authorized personnel can efficiently manage SEC and other regulatory filings. It does not directly impact Varex Imaging Corp's corporate governance. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's passive stake in Varex Imaging Corp, which can influence market perception and trading activity.
Next Steps
- BlackRock, Inc. will continue to file amendments to Schedule 13G as required by SEC regulations if there are material changes to its beneficial ownership of Varex Imaging Corp.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of the previously revoked Power of Attorney for BlackRock, Inc. |
| 2025-01-21 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 2025-03-31 | Date of event which requires the filing of this statement (reporting period end). |
| 2025-04-17 | Date of signature for the Schedule 13G filing. |
Keywords
Varex Imaging Corp, BlackRock, Schedule 13G, Beneficial Ownership, Common Stock, Passive Investment, SEC Filing, Institutional Investor, Shareholding Disclosure
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