Varex Imaging (NASDAQ:VREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday. They presently have a $33.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 8.30% from the company’s current price.
According to Zacks, “Varex Imaging Corporation is an innovator, designer and manufacturer of X-ray imaging components which include tubes, digital flat panel detectors and other image processing solutions. Its components are used in medical imaging as well as industrial and security imaging applications. The company operates primarily in North America, Europe and Asia. Varex Imaging Corporation is based in Salt Lake City, United States. “
A number of other research firms have also recently commented on VREX. TheStreet raised shares of Varex Imaging from a “d+” rating to a “c-” rating in a report on Wednesday, January 30th. Sidoti began coverage on shares of Varex Imaging in a report on Wednesday, January 16th. They issued a “buy” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Varex Imaging in a report on Thursday, November 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Varex Imaging has an average rating of “Hold” and an average price target of $32.25.
Shares of NASDAQ VREX traded down $0.90 during midday trading on Friday, reaching $30.47. The company’s stock had a trading volume of 224,330 shares, compared to its average volume of 296,097. Varex Imaging has a 12-month low of $21.57 and a 12-month high of $39.39. The company has a market capitalization of $1.20 billion, a PE ratio of 23.44, a PEG ratio of 2.36 and a beta of 1.61. The company has a quick ratio of 1.47, a current ratio of 2.81 and a debt-to-equity ratio of 0.81.
Varex Imaging (NASDAQ:VREX) last announced its earnings results on Tuesday, February 5th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Varex Imaging had a return on equity of 12.10% and a net margin of 2.45%. The business had revenue of $185.70 million during the quarter, compared to analysts’ expectations of $176.73 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Varex Imaging’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that Varex Imaging will post 1.33 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Varex Imaging by 2.4% in the 4th quarter. BlackRock Inc. now owns 5,916,732 shares of the company’s stock worth $140,107,000 after purchasing an additional 141,352 shares during the period. Vanguard Group Inc. raised its holdings in shares of Varex Imaging by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,812,851 shares of the company’s stock worth $109,276,000 after purchasing an additional 86,869 shares during the period. Vanguard Group Inc raised its holdings in Varex Imaging by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 3,812,851 shares of the company’s stock valued at $109,276,000 after acquiring an additional 86,869 shares during the period. FMR LLC raised its holdings in Varex Imaging by 465.2% during the 3rd quarter. FMR LLC now owns 1,400,147 shares of the company’s stock valued at $40,129,000 after acquiring an additional 1,152,410 shares during the period. Finally, Pzena Investment Management LLC bought a new stake in Varex Imaging during the 4th quarter valued at $32,226,000. 96.76% of the stock is currently owned by institutional investors.
About Varex Imaging
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 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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