Equities research analysts expect Varex Imaging Corp (NASDAQ:VREX) to announce $195.89 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Varex Imaging’s earnings, with estimates ranging from $191.30 million to $200.47 million. Varex Imaging reported sales of $201.20 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that Varex Imaging will report full-year sales of $770.84 million for the current financial year, with estimates ranging from $766.10 million to $776.10 million. For the next fiscal year, analysts forecast that the business will post sales of $787.65 million, with estimates ranging from $776.80 million to $793.44 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last announced its earnings results on Tuesday, February 5th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). Varex Imaging had a return on equity of 12.10% and a net margin of 2.45%. The firm had revenue of $185.70 million during the quarter, compared to the consensus estimate of $176.73 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue was up 5.4% on a year-over-year basis.
Several brokerages have recently issued reports on VREX. Northland Securities began coverage on Varex Imaging in a research report on Tuesday. They issued an “outperform” rating and a $42.00 target price for the company. Zacks Investment Research lowered Varex Imaging from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a research report on Saturday, February 9th. TheStreet raised Varex Imaging from a “d+” rating to a “c-” rating in a research report on Wednesday, January 30th. Finally, Sidoti began coverage on Varex Imaging in a research report on Wednesday, January 16th. They issued a “buy” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.20.
Several large investors have recently made changes to their positions in VREX. NumerixS Investment Technologies Inc increased its position in Varex Imaging by 125.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $43,000 after buying an additional 1,000 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Varex Imaging by 62.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock valued at $44,000 after buying an additional 712 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Varex Imaging by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock valued at $69,000 after buying an additional 715 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Varex Imaging during the 4th quarter valued at approximately $71,000. Finally, Advisor Group Inc. increased its position in Varex Imaging by 35.5% during the 4th quarter. Advisor Group Inc. now owns 3,725 shares of the company’s stock valued at $87,000 after buying an additional 975 shares in the last quarter. 97.43% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:VREX traded down $0.29 during trading on Wednesday, hitting $33.96. The stock had a trading volume of 170,324 shares, compared to its average volume of 253,339. Varex Imaging has a 12 month low of $21.57 and a 12 month high of $39.39. The firm has a market capitalization of $1.29 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.48 and a beta of 1.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.26 and a current ratio of 2.81.
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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