Equities analysts expect Varex Imaging Corp (NASDAQ:VREX) to post $187.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Varex Imaging’s earnings, with the highest sales estimate coming in at $192.20 million and the lowest estimate coming in at $182.10 million. Varex Imaging reported sales of $191.20 million during the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The company is expected to issue its next earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Varex Imaging will report full year sales of $774.25 million for the current financial year, with estimates ranging from $770.00 million to $777.60 million. For the next financial year, analysts anticipate that the firm will post sales of $796.41 million, with estimates ranging from $780.70 million to $814.24 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last issued its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $194.76 million. Varex Imaging had a net margin of 1.65% and a return on equity of 10.93%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share.
VREX has been the topic of several analyst reports. CJS Securities upgraded Varex Imaging from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 11th. Northland Securities initiated coverage on Varex Imaging in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $42.00 price target for the company. Finally, Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Saturday, May 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Varex Imaging presently has a consensus rating of “Buy” and a consensus price target of $34.60.
VREX traded up $0.31 on Thursday, hitting $29.57. 176,417 shares of the stock were exchanged, compared to its average volume of 298,456. Varex Imaging has a 12 month low of $21.57 and a 12 month high of $39.39. The company has a quick ratio of 1.13, a current ratio of 2.80 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 2.14 and a beta of 1.74.
Institutional investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc lifted its stake in shares of Varex Imaging by 125.0% in the 4th quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Varex Imaging by 62.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock valued at $44,000 after purchasing an additional 712 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Varex Imaging by 478.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock worth $55,000 after buying an additional 1,388 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Varex Imaging by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock worth $69,000 after buying an additional 715 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Varex Imaging during the 4th quarter worth approximately $71,000. Institutional investors own 93.88% 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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