Varex Imaging (NASDAQ:VREX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Varex Imaging Corporation is an innovator, designer and manufacturer of X-ray imaging components which include tubes, digital flat panel detectors and other image processing solutions. Its components are used in medical imaging as well as industrial and security imaging applications. The company operates primarily in North America, Europe and Asia. Varex Imaging Corporation is based in Salt Lake City, United States. “

Other equities analysts have also issued reports about the company. Northland Securities reiterated a “buy” rating and issued a $42.00 target price on shares of Varex Imaging in a research note on Wednesday, May 15th. CJS Securities upgraded Varex Imaging from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Varex Imaging has an average rating of “Buy” and a consensus price target of $34.60.

Shares of NASDAQ:VREX traded down $0.37 on Friday, hitting $28.44. The company had a trading volume of 123,248 shares, compared to its average volume of 253,128. The company has a quick ratio of 1.13, a current ratio of 2.80 and a debt-to-equity ratio of 0.73. Varex Imaging has a 52-week low of $21.57 and a 52-week high of $39.39. The company has a market capitalization of $1.10 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.13 and a beta of 1.74.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $194.76 million. During the same period in the prior year, the business earned $0.45 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Varex Imaging will post 1.36 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in VREX. NumerixS Investment Technologies Inc increased its stake in Varex Imaging by 125.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in 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 valued at $44,000 after purchasing an additional 712 shares during the last quarter. Fifth Third Bancorp increased its stake in Varex Imaging by 33.6% in the first quarter. Fifth Third Bancorp now owns 1,548 shares of the company’s stock valued at $52,000 after purchasing an additional 389 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Varex Imaging by 478.6% in the first quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock valued at $55,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

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.

See Also: What is the CBOE Russell 2000® Volatility Index?

Get a free copy of the Zacks research report on Varex Imaging (VREX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Varex Imaging (NASDAQ:VREX)

Receive News & Ratings for Varex Imaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varex Imaging and related companies with MarketBeat.com's FREE daily email newsletter.