Wall Street brokerages predict that Varex Imaging Corp (NASDAQ:VREX) will report earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Varex Imaging’s earnings, with estimates ranging from $0.27 to $0.34. Varex Imaging posted earnings per share of $0.34 during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.8%. The company is scheduled to issue its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Varex Imaging will report full year earnings of $1.36 per share for the current year, with EPS estimates ranging from $1.35 to $1.36. For the next year, analysts expect that the company will post earnings of $1.49 per share, with EPS estimates ranging from $1.40 to $1.57. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $194.76 million. Varex Imaging had a net margin of 1.65% and a return on equity of 10.93%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share.
Several research firms recently weighed in on VREX. Northland Securities reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Varex Imaging in a report on Wednesday, May 15th. CJS Securities raised shares of Varex Imaging from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $34.60.
VREX stock traded down $0.10 during trading on Thursday, hitting $30.41. The company had a trading volume of 1,739 shares, compared to its average volume of 296,712. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 2.28 and a beta of 1.80. The firm has a 50 day moving average price of $28.77. Varex Imaging has a fifty-two week low of $21.57 and a fifty-two week high of $39.39. The company has a quick ratio of 1.13, a current ratio of 2.80 and a debt-to-equity ratio of 0.73.
In related news, SVP Kimberley E. Honeysett sold 916 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $30.00, for a total value of $27,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,756 shares of company stock valued at $52,058 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its position in shares of Varex Imaging by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 10,218 shares of the company’s stock worth $242,000 after acquiring an additional 398 shares during the period. Oregon Public Employees Retirement Fund purchased a new position in shares of Varex Imaging during the fourth quarter worth approximately $343,000. Prudential Financial Inc. increased its position in shares of Varex Imaging by 39.5% during the fourth quarter. Prudential Financial Inc. now owns 121,950 shares of the company’s stock worth $2,888,000 after acquiring an additional 34,516 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Varex Imaging by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 14,647 shares of the company’s stock worth $347,000 after acquiring an additional 339 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Varex Imaging by 3.0% during the fourth quarter. California Public Employees Retirement System now owns 72,753 shares of the company’s stock worth $1,723,000 after acquiring an additional 2,100 shares during the period. 93.88% of the stock is owned by institutional investors.
Varex Imaging Company Profile
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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