Shares of Varex Imaging Corp (NASDAQ:VREX) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.00.
A number of equities analysts have commented on the company. Northland Securities reissued a “buy” rating and issued a $42.00 price objective on shares of Varex Imaging in a research note on Wednesday, May 15th. Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research note on Saturday, May 11th. Finally, CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a research note on Tuesday.
Several institutional investors and hedge funds have recently modified their holdings of the company. GYL Financial Synergies LLC bought a new stake in shares of Varex Imaging in the first quarter worth about $493,000. Nordea Investment Management AB increased its holdings in shares of Varex Imaging by 1.8% in the first quarter. Nordea Investment Management AB now owns 176,987 shares of the company’s stock worth $5,996,000 after acquiring an additional 3,071 shares in the last quarter. CWM Advisors LLC bought a new stake in shares of Varex Imaging in the first quarter worth about $214,000. HighTower Advisors LLC increased its holdings in shares of Varex Imaging by 3.1% in the first quarter. HighTower Advisors LLC now owns 29,353 shares of the company’s stock worth $1,003,000 after acquiring an additional 883 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Varex Imaging by 69.8% in the first quarter. Goldman Sachs Group Inc. now owns 185,903 shares of the company’s stock worth $6,298,000 after acquiring an additional 76,405 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Varex Imaging stock opened at $28.44 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 1.13 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74. Varex Imaging has a 52 week low of $21.57 and a 52 week high of $39.39.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $195.80 million for the quarter, compared to analyst estimates of $194.76 million. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Research analysts anticipate that Varex Imaging will post 1.36 earnings per share for the current year.
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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