Other equities research analysts also recently issued reports about the company. Jefferies Financial Group set a $31.00 target price on Varex Imaging and gave the company a buy rating in a report on Monday, August 12th. BidaskClub upgraded Varex Imaging from a buy rating to a strong-buy rating in a report on Saturday, November 23rd. Northland Securities reiterated a buy rating and set a $42.00 target price on shares of Varex Imaging in a report on Wednesday, August 7th. Oppenheimer initiated coverage on Varex Imaging in a report on Tuesday, October 22nd. They set an outperform rating and a $40.00 target price on the stock. Finally, Zacks Investment Research downgraded Varex Imaging from a hold rating to a sell rating in a report on Saturday, November 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Varex Imaging currently has a consensus rating of Buy and an average target price of $36.60.
Shares of NASDAQ:VREX opened at $29.29 on Friday. The company has a market cap of $1.15 billion, a P/E ratio of 22.53, a PEG ratio of 2.97 and a beta of 1.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.09 and a current ratio of 2.51. Varex Imaging has a one year low of $21.57 and a one year high of $35.00. The business’s 50-day simple moving average is $30.03 and its 200 day simple moving average is $28.99.
Varex Imaging (NASDAQ:VREX) last announced its earnings results on Tuesday, November 12th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $202.40 million for the quarter, compared to the consensus estimate of $204.14 million. Varex Imaging had a return on equity of 11.49% and a net margin of 2.13%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. Analysts predict that Varex Imaging will post 1.35 earnings per share for the current year.
In other Varex Imaging news, CFO Clarence R. Verhoef sold 21,047 shares of Varex Imaging stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $28.94, for a total transaction of $609,100.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark S. Jonaitis sold 13,530 shares of Varex Imaging stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $31.02, for a total value of $419,700.60. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in Varex Imaging during the 3rd quarter worth approximately $45,000. HM Payson & Co. acquired a new position in shares of Varex Imaging in the 2nd quarter worth approximately $63,000. Bank of Montreal Can grew its position in shares of Varex Imaging by 70.0% in the 2nd quarter. Bank of Montreal Can now owns 7,244 shares of the company’s stock worth $222,000 after acquiring an additional 2,982 shares in the last quarter. CWM Advisors LLC grew its position in shares of Varex Imaging by 15.8% in the 2nd quarter. CWM Advisors LLC now owns 7,310 shares of the company’s stock worth $224,000 after acquiring an additional 996 shares in the last quarter. Finally, Sun Life Financial INC grew its position in shares of Varex Imaging by 44.8% in the 2nd quarter. Sun Life Financial INC now owns 7,451 shares of the company’s stock worth $228,000 after acquiring an additional 2,305 shares in the last quarter. Institutional investors own 89.44% of the company’s stock.
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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