Shares of Varex Imaging Corp (NASDAQ:VREX) have earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.00.
Several brokerages have recently issued reports on VREX. Northland Securities reaffirmed a “buy” rating and issued a $42.00 target price on shares of Varex Imaging in a report on Wednesday. Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Saturday, May 11th. Finally, TheStreet raised Varex Imaging from a “d+” rating to a “c-” rating in a report on Wednesday, January 30th.
Hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc increased its holdings in shares of Varex Imaging by 125.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock worth $43,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Varex Imaging by 62.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock worth $44,000 after purchasing an additional 712 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Varex Imaging by 33.6% in the first quarter. Fifth Third Bancorp now owns 1,548 shares of the company’s stock worth $52,000 after purchasing an additional 389 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Varex Imaging by 478.6% in the first quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock worth $55,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Varex Imaging by 32.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock worth $69,000 after purchasing an additional 715 shares during the last quarter. 99.07% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:VREX opened at $28.27 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.13 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.19 and a beta of 1.58. Varex Imaging has a 52 week low of $21.57 and a 52 week high of $39.39.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $194.76 million. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, analysts predict that Varex Imaging will post 1.33 earnings per share for the current fiscal year.
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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