Equities analysts expect that Varex Imaging Corp (NASDAQ:VREX) will report sales of $193.61 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Varex Imaging’s earnings, with the lowest sales estimate coming in at $193.20 million and the highest estimate coming in at $194.02 million. The firm is scheduled to report its next earnings results after the market closes on Thursday, February 1st.
According to Zacks, analysts expect that Varex Imaging will report full year sales of $193.61 million for the current year, with estimates ranging from $792.22 million to $792.30 million. For the next fiscal year, analysts expect that the firm will report sales of $814.96 million per share, with estimates ranging from $814.70 million to $815.22 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Varex Imaging.
Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, November 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The business had revenue of $216.00 million during the quarter, compared to analyst estimates of $213.73 million. The company’s revenue for the quarter was up 25.5% on a year-over-year basis.
VREX has been the topic of a number of research reports. Zacks Investment Research downgraded Varex Imaging from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Jefferies Group increased their price objective on Varex Imaging to $39.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. downgraded Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price objective on the stock. in a report on Wednesday, October 4th.
Shares of Varex Imaging (VREX) traded down $0.11 on Tuesday, hitting $40.50. The stock had a trading volume of 165,200 shares, compared to its average volume of 155,636. Varex Imaging has a one year low of $25.00 and a one year high of $41.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.72 and a current ratio of 3.26.
In related news, insider Sunny Sanyal sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total value of $1,825,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VREX. Ameritas Investment Partners Inc. acquired a new position in Varex Imaging in the second quarter worth approximately $112,000. Pinebridge Investments L.P. bought a new stake in Varex Imaging during the second quarter worth approximately $167,000. Tufton Capital Management bought a new stake in Varex Imaging during the third quarter worth approximately $201,000. Public Employees Retirement Association of Colorado bought a new stake in Varex Imaging during the third quarter worth approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Varex Imaging during the third quarter worth approximately $235,000. Hedge funds and other institutional investors own 92.33% of the company’s stock.
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Varex Imaging Company Profile
Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.
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