Varex Imaging (NASDAQ:VREX) Receives Average Recommendation of “Reduce” from Analysts

Varex Imaging (NASDAQ:VREX) has earned an average recommendation of “Reduce” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.8750.

VREX has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research cut shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. B. Riley Financial downgraded Varex Imaging from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. CJS Securities lowered Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Finally, Sidoti reissued a “neutral” rating and issued a $19.00 target price on shares of Varex Imaging in a research note on Monday, August 10th.

Varex Imaging Stock Performance

Shares of NASDAQ:VREX opened at $18.52 on Tuesday. The firm’s 50 day simple moving average is $12.54 and its 200 day simple moving average is $11.86. Varex Imaging has a fifty-two week low of $9.09 and a fifty-two week high of $18.63. The company has a market capitalization of $779.69 million, a price-to-earnings ratio of 35.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The firm had revenue of $210.50 million during the quarter, compared to analysts’ expectations of $215.50 million. As a group, sell-side analysts forecast that Varex Imaging will post 0.98 earnings per share for the current year.

Hedge Funds Weigh In On Varex Imaging

Institutional investors and hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Varex Imaging during the 4th quarter worth approximately $1,247,000. Pzena Investment Management LLC acquired a new position in shares of Varex Imaging in the second quarter valued at approximately $45,312,000. Rice Hall James & Associates LLC acquired a new position in shares of Varex Imaging in the second quarter valued at approximately $15,080,000. LSV Asset Management increased its position in shares of Varex Imaging by 210.7% during the fourth quarter. LSV Asset Management now owns 1,244,329 shares of the company’s stock worth $14,496,000 after acquiring an additional 843,805 shares in the last quarter. Finally, JB Capital Partners LP acquired a new stake in shares of Varex Imaging during the second quarter worth $3,535,395,000.

About Varex Imaging

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.