Varex Imaging Corp (NASDAQ:VREX) – Analysts at Jefferies Financial Group decreased their Q3 2019 earnings per share estimates for shares of Varex Imaging in a research report issued on Tuesday, June 11th. Jefferies Financial Group analyst A. Petrone now expects that the company will earn $0.27 per share for the quarter, down from their previous forecast of $0.29. Jefferies Financial Group also issued estimates for Varex Imaging’s Q4 2019 earnings at $0.48 EPS, FY2019 earnings at $1.35 EPS, FY2020 earnings at $1.40 EPS, FY2021 earnings at $1.53 EPS and FY2022 earnings at $1.76 EPS.
VREX has been the subject of several other research reports. Zacks Investment Research raised shares of Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Saturday, May 11th. CJS Securities raised shares of Varex Imaging from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Finally, Northland Securities began coverage on shares of Varex Imaging in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $42.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.60.
NASDAQ:VREX opened at $29.00 on Thursday. Varex Imaging has a 12-month low of $21.57 and a 12-month high of $39.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.13. The stock has a market capitalization of $1.07 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.73.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Varex Imaging had a net margin of 1.65% and a return on equity of 10.93%. The firm had revenue of $195.80 million during the quarter, compared to analyst estimates of $194.76 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc increased its holdings in shares of Varex Imaging by 125.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock worth $43,000 after buying an additional 1,000 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Varex Imaging by 62.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock worth $44,000 after buying an additional 712 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Varex Imaging by 33.6% during the first quarter. Fifth Third Bancorp now owns 1,548 shares of the company’s stock worth $52,000 after buying an additional 389 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Varex Imaging by 478.6% during the first quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock worth $55,000 after buying an additional 1,388 shares in 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 valued at $69,000 after purchasing an additional 715 shares in the last quarter. 93.88% of the stock is owned by institutional investors.
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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