BidaskClub downgraded shares of Varex Imaging (NASDAQ:VREX) from a hold rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.
A number of other equities analysts have also weighed in on VREX. Oppenheimer reissued a buy rating and issued a $40.00 target price on shares of Varex Imaging in a research report on Wednesday, May 13th. Zacks Investment Research downgraded Varex Imaging from a buy rating to a hold rating in a research note on Tuesday, July 28th. Sidoti cut their price target on Varex Imaging from $44.00 to $34.00 and set a buy rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. downgraded Varex Imaging from an overweight rating to a neutral rating and cut their price target for the company from $32.00 to $25.00 in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group cut their price target on Varex Imaging from $30.00 to $25.00 and set a hold rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $32.50.
Shares of NASDAQ:VREX opened at $15.68 on Thursday. Varex Imaging has a fifty-two week low of $14.27 and a fifty-two week high of $33.00. The business has a 50-day simple moving average of $15.51 and a two-hundred day simple moving average of $21.53. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.87 and a current ratio of 2.29. The firm has a market cap of $613.09 million, a price-to-earnings ratio of 130.68, a price-to-earnings-growth ratio of 9.47 and a beta of 1.22.
Varex Imaging (NASDAQ:VREX) last issued its earnings results on Tuesday, May 12th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.23). Varex Imaging had a return on equity of 8.89% and a net margin of 0.58%. The business had revenue of $197.00 million during the quarter, compared to analysts’ expectations of $199.90 million. During the same period last year, the firm posted $0.34 EPS. Varex Imaging’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that Varex Imaging will post 0.34 earnings per share for the current year.
In related news, CAO Kevin Bruce Yankton sold 1,629 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $16.34, for a total transaction of $26,617.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Varex Imaging by 30.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the company’s stock valued at $72,000 after acquiring an additional 742 shares during the period. Point72 Hong Kong Ltd bought a new position in Varex Imaging in the 4th quarter worth approximately $28,000. Fifth Third Bancorp boosted its stake in Varex Imaging by 45.7% in the 1st quarter. Fifth Third Bancorp now owns 2,997 shares of the company’s stock worth $68,000 after purchasing an additional 940 shares during the period. Comerica Bank boosted its stake in Varex Imaging by 2.5% in the 1st quarter. Comerica Bank now owns 38,836 shares of the company’s stock worth $923,000 after purchasing an additional 951 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in Varex Imaging by 16.2% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 7,072 shares of the company’s stock worth $161,000 after purchasing an additional 987 shares during the period. Institutional investors own 89.89% of the company’s stock.
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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