Varex Imaging (VREX) Trading Down 1.2%

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Varex Imaging Corp (NASDAQ:VREX)’s share price fell 1.2% during mid-day trading on Thursday . The stock traded as low as $25.18 and last traded at $25.55. 12,130 shares were traded during mid-day trading, a decline of 96% from the average session volume of 275,184 shares. The stock had previously closed at $25.25.

Several brokerages recently issued reports on VREX. Zacks Investment Research upgraded Varex Imaging from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 4th. ValuEngine cut Varex Imaging from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Jefferies Financial Group lowered their price objective on Varex Imaging to $33.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Varex Imaging currently has an average rating of “Hold” and a consensus target price of $37.00.

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 2.15 and a beta of 1.88. The company has a quick ratio of 1.42, a current ratio of 3.16 and a debt-to-equity ratio of 0.89.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.17). Varex Imaging had a net margin of 5.39% and a return on equity of 15.16%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $196.88 million. During the same period in the prior year, the firm posted $0.44 EPS. Varex Imaging’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts predict that Varex Imaging Corp will post 1.33 earnings per share for the current year.

In other news, Director Walter M. Rosebrough, Jr. purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $28.39 per share, with a total value of $283,900.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Clarence R. Verhoef purchased 3,300 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were purchased at an average cost of $29.58 per share, for a total transaction of $97,614.00. The disclosure for this purchase can be found here. Insiders acquired a total of 20,300 shares of company stock worth $578,774 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in VREX. Wells Fargo & Company MN boosted its stake in shares of Varex Imaging by 9.0% during the 1st quarter. Wells Fargo & Company MN now owns 183,267 shares of the company’s stock worth $6,557,000 after acquiring an additional 15,082 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Varex Imaging by 3.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 200,587 shares of the company’s stock worth $7,178,000 after acquiring an additional 6,274 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Varex Imaging by 0.9% during the 1st quarter. Northern Trust Corp now owns 509,636 shares of the company’s stock worth $18,235,000 after acquiring an additional 4,320 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Varex Imaging by 3.8% during the 1st quarter. BlackRock Inc. now owns 5,069,312 shares of the company’s stock worth $181,380,000 after acquiring an additional 185,935 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Varex Imaging by 6.0% during the 1st quarter. New York State Common Retirement Fund now owns 42,700 shares of the company’s stock worth $1,528,000 after acquiring an additional 2,400 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Varex Imaging Company Profile (NASDAQ:VREX)

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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