Wall Street analysts predict that Varex Imaging Corp (NASDAQ:VREX) will report sales of $189.11 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Varex Imaging’s earnings. The highest sales estimate is $196.70 million and the lowest is $181.52 million. Varex Imaging reported sales of $154.80 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.2%. The firm is scheduled to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Varex Imaging will report full year sales of $189.11 million for the current year, with estimates ranging from $789.14 million to $789.90 million. For the next year, analysts anticipate that the company will report sales of $805.72 million per share, with estimates ranging from $799.40 million to $812.04 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The business had revenue of $176.20 million during the quarter, compared to analyst estimates of $194.00 million. Varex Imaging had a return on equity of 16.90% and a net margin of 7.24%. Varex Imaging’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS.
A number of brokerages have recently weighed in on VREX. Zacks Investment Research upgraded Varex Imaging from a “strong sell” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Saturday, December 23rd. JPMorgan Chase & Co. upgraded Varex Imaging from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 20th.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in Varex Imaging in the second quarter worth about $9,048,000. Royal Bank of Canada bought a new position in shares of Varex Imaging during the second quarter valued at approximately $363,000. The Manufacturers Life Insurance Company purchased a new position in Varex Imaging during the 2nd quarter worth $971,000. California State Teachers Retirement System bought a new stake in Varex Imaging in the 2nd quarter valued at $2,255,000. Finally, Aperio Group LLC acquired a new stake in Varex Imaging in the third quarter valued at approximately $993,000. 93.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Varex Imaging (NASDAQ VREX) traded up $0.23 on Wednesday, hitting $37.65. The stock had a trading volume of 538,219 shares, compared to its average volume of 194,127. The company has a quick ratio of 1.60, a current ratio of 3.25 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1,412.91, a price-to-earnings ratio of 27.48, a PEG ratio of 2.01 and a beta of 3.16. Varex Imaging has a twelve month low of $27.80 and a twelve month high of $43.76.
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About Varex Imaging
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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