ValuEngine Upgrades Varex Imaging (NASDAQ:VREX) to “Hold”

ValuEngine upgraded shares of Varex Imaging (NASDAQ:VREX) from a sell rating to a hold rating in a report published on Thursday, December 19th, ValuEngine reports.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Varex Imaging from a hold rating to a sell rating in a research report on Saturday, November 16th. BidaskClub cut shares of Varex Imaging from a strong-buy rating to a buy rating in a report on Wednesday, December 18th. Finally, Oppenheimer initiated coverage on shares of Varex Imaging in a report on Tuesday, October 22nd. They issued an outperform rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Varex Imaging currently has a consensus rating of Buy and a consensus target price of $36.60.

Shares of VREX stock traded up $0.38 during trading on Thursday, hitting $30.73. The company had a trading volume of 153,531 shares, compared to its average volume of 154,479. The company has a quick ratio of 1.09, a current ratio of 2.50 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average is $30.18 and its two-hundred day moving average is $29.42. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 23.64, a price-to-earnings-growth ratio of 4.40 and a beta of 1.85. Varex Imaging has a 52 week low of $24.40 and a 52 week high of $35.00.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Varex Imaging had a net margin of 2.13% and a return on equity of 11.49%. The company had revenue of $202.40 million for the quarter, compared to analysts’ expectations of $204.14 million. During the same period in the prior year, the business earned $0.29 earnings per share. Varex Imaging’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts predict that Varex Imaging will post 1.38 EPS for the current fiscal year.

In other news, CFO Clarence R. Verhoef sold 21,047 shares of Varex Imaging stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $28.94, for a total value of $609,100.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark S. Jonaitis sold 13,530 shares of Varex Imaging stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $31.02, for a total value of $419,700.60. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ETRADE Capital Management LLC increased its holdings in Varex Imaging by 4.0% in the 2nd quarter. ETRADE Capital Management LLC now owns 22,120 shares of the company’s stock worth $678,000 after buying an additional 855 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Varex Imaging by 650.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 24,341 shares of the company’s stock valued at $746,000 after buying an additional 21,096 shares in the last quarter. Carillon Tower Advisers Inc. increased its position in shares of Varex Imaging by 8.4% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 91,529 shares of the company’s stock valued at $2,805,000 after purchasing an additional 7,075 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Varex Imaging by 12.9% during the 2nd quarter. Prudential Financial Inc. now owns 132,580 shares of the company’s stock valued at $4,063,000 after purchasing an additional 15,174 shares during the last quarter. Finally, Ancora Advisors LLC increased its position in shares of Varex Imaging by 14.4% during the 3rd quarter. Ancora Advisors LLC now owns 100,398 shares of the company’s stock valued at $2,865,000 after purchasing an additional 12,640 shares during the last quarter. 89.17% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Varex Imaging (NASDAQ:VREX)

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