Varex Imaging (NASDAQ:VREX) Now Covered by StockNews.com

Posted by on Oct 6th, 2023

Analysts at StockNews.com started coverage on shares of Varex Imaging (NASDAQ:VREX – Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the stock.

Several other research firms have also commented on VREX. TheStreet raised shares of Varex Imaging from a “c” rating to a “b-” rating in a research report on Wednesday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $42.00 target price on shares of Varex Imaging in a research report on Wednesday, August 2nd.

Get Our Latest Report on Varex Imaging

Varex Imaging Trading Up 0.8 %

Shares of VREX opened at $19.06 on Thursday. The company’s fifty day moving average is $19.97 and its 200 day moving average is $20.62. Varex Imaging has a fifty-two week low of $17.11 and a fifty-two week high of $23.90. The stock has a market capitalization of $770.02 million, a PE ratio of 26.85, a P/E/G ratio of 0.48 and a beta of 0.82. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.15 and a current ratio of 4.03.

Varex Imaging (NASDAQ:VREX – Get Free Report) last issued its earnings results on Tuesday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04. Varex Imaging had a net margin of 3.28% and a return on equity of 8.24%. The firm had revenue of $232.20 million during the quarter, compared to analyst estimates of $228.57 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Varex Imaging will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Varex Imaging

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC lifted its position in Varex Imaging by 100.8% during the first quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock worth $26,000 after buying an additional 635 shares during the period. Quarry LP increased its stake in Varex Imaging by 70.1% during the first quarter. Quarry LP now owns 2,305 shares of the company’s stock worth $42,000 after acquiring an additional 950 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Varex Imaging in the first quarter valued at about $46,000. Advisor Group Holdings Inc. grew its stake in shares of Varex Imaging by 59.0% in the first quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock valued at $62,000 after buying an additional 730 shares in the last quarter. Finally, Pacific Center for Financial Services acquired a new stake in shares of Varex Imaging in the first quarter valued at about $94,000.

About Varex Imaging

(Get Free Report)

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through 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, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys.

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