Varex Imaging (NASDAQ:VREX) Price Target Lowered to $23.00 at Oppenheimer

Varex Imaging (NASDAQ:VREX) had its target price lowered by equities researchers at Oppenheimer from $30.00 to $23.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 90.37% from the company’s current price.

A number of other research analysts have also weighed in on VREX. B. Riley reissued a “buy” rating and set a $22.00 price target (up from $21.00) on shares of Varex Imaging in a research report on Friday. StockNews.com cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th.

Varex Imaging Trading Down 20.5 %

NASDAQ VREX traded down $3.12 on Friday, hitting $12.08. The company’s stock had a trading volume of 1,270,110 shares, compared to its average volume of 443,430. The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72. Varex Imaging has a 1-year low of $10.19 and a 1-year high of $18.30. The company’s 50-day moving average is $14.54 and its 200 day moving average is $13.39. The firm has a market cap of $498.14 million, a PE ratio of -10.42 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.88% and a positive return on equity of 3.85%. As a group, analysts predict that Varex Imaging will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

A number of institutional investors have recently made changes to their positions in VREX. Squarepoint Ops LLC increased its holdings in shares of Varex Imaging by 132.1% in the 2nd quarter. Squarepoint Ops LLC now owns 26,380 shares of the company’s stock worth $389,000 after buying an additional 15,014 shares during the last quarter. CWM LLC boosted its position in Varex Imaging by 2,384.2% during the 3rd quarter. CWM LLC now owns 9,589 shares of the company’s stock valued at $114,000 after buying an additional 9,203 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Varex Imaging by 32.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 107,900 shares of the company’s stock worth $1,286,000 after purchasing an additional 26,321 shares during the period. Creative Planning lifted its position in shares of Varex Imaging by 9.2% in the 3rd quarter. Creative Planning now owns 19,644 shares of the company’s stock worth $234,000 after purchasing an additional 1,654 shares during the period. Finally, Inspire Advisors LLC lifted its position in Varex Imaging by 29.8% during the 3rd quarter. Inspire Advisors LLC now owns 14,149 shares of the company’s stock valued at $169,000 after acquiring an additional 3,245 shares during the period.

Varex Imaging Company Profile

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.