Varex Imaging (NASDAQ:VREX) Stock Has Consensus Price Target of $16.88 According to Analysts

Varex Imaging (NASDAQ:VREX) has received an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $16.88.

Several research analysts have issued reports on the stock. CJS Securities cut shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 17th. Oppenheimer lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. B. Riley Financial lowered shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings raised shares of Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th.

Insider Buying and Selling at Varex Imaging

In other news, Director Jay K. Kunkel sold 8,121 shares of Varex Imaging stock in a transaction on Monday, September 14th. The stock was sold at an average price of $18.48, for a total value of $150,076.08. Following the transaction, the director directly owned 15,329 shares in the company, valued at approximately $283,279.92. This trade represents a 34.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shubham Maheshwari sold 130,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $18.46, for a total value of $2,399,800.00. Following the completion of the transaction, the chief financial officer directly owned 139,972 shares of the company’s stock, valued at approximately $2,583,883.12. The trade was a 48.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varex Imaging

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Varex Imaging by 65.4% in the third quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock worth $31,000 after purchasing an additional 655 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Varex Imaging by 177.0% during the third quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock valued at $66,000 after buying an additional 2,274 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Varex Imaging during the second quarter valued at about $542,000. Integrated Wealth Concepts LLC bought a new stake in shares of Varex Imaging in the 2nd quarter valued at about $32,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Varex Imaging in the 2nd quarter valued at about $1,492,000.

Varex Imaging Price Performance

VREX opened at $18.46 on Wednesday. The business has a fifty day moving average of $17.86 and a 200 day moving average of $13.25. The stock has a market cap of $777.17 million, a P/E ratio of 35.50 and a beta of 0.97. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64. Varex Imaging has a 52-week low of $9.09 and a 52-week high of $18.63.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.31 earnings per share 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 company had revenue of $210.50 million during the quarter, compared to analyst estimates of $215.50 million. As a group, sell-side analysts anticipate that Varex Imaging will post 1.04 EPS for the current year.

Varex Imaging Company Profile

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures medical imaging components and X-ray products used by original equipment manufacturers, healthcare providers and other customers. Its portfolio includes X-ray tubes, digital detectors, image-processing software and other components that support diagnostic imaging, radiotherapy and industrial inspection systems.

The company’s products are used in a range of applications, including computed tomography, radiography, fluoroscopy, mammography, dental imaging, oncology and image-guided procedures.