Varex Imaging (VREX) – What Are Researchers Thinking About This Stock?

Shares of Varex Imaging (NASDAQ:VREX) have received a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have covered the stock in the last year is $16.88.

Several research firms have recently weighed in on VREX. Zacks Research cut shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Sidoti lowered shares of Varex Imaging from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Monday, August 10th. Oppenheimer cut Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Weiss Ratings upgraded Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Finally, B. Riley Financial downgraded Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, August 10th.

Varex Imaging Stock Performance

Shares of VREX stock opened at $18.44 on Friday. The company’s 50-day moving average price is $18.46 and its 200-day moving average price is $13.74. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. The stock has a market cap of $783.02 million, a price-to-earnings ratio of 35.46 and a beta of 1.02. Varex Imaging has a twelve month low of $9.09 and a twelve month 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 (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 analyst estimates of $215.50 million. As a group, equities analysts predict that Varex Imaging will post 1.04 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Varex Imaging by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock valued at $31,000 after buying an additional 655 shares during the period. Parallel Advisors LLC lifted its stake in Varex Imaging by 307.2% during the 3rd quarter. Parallel Advisors LLC now owns 1,865 shares of the company’s stock worth $34,000 after acquiring an additional 1,407 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Varex Imaging during the 4th quarter valued at about $27,000. Fortitude Family Office LLC boosted its holdings in Varex Imaging by 1,643.6% during the 3rd quarter. Fortitude Family Office LLC now owns 2,441 shares of the company’s stock valued at $45,000 after acquiring an additional 2,301 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in Varex Imaging in the 2nd quarter valued at about $32,000.

Varex Imaging Company Profile

Varex Imaging Corporation develops and manufactures X-ray imaging components used in medical, industrial, and security applications. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, baggage inspection, cargo screening, and other imaging processes.

The company’s product portfolio includes X-ray tubes, digital detectors, image-processing software, high-voltage connectors, and other components for X-ray imaging systems. Varex also provides software and services designed to support image quality, system performance, and equipment integration.

Varex serves equipment manufacturers and other customers worldwide, with applications spanning healthcare, industrial inspection, and security screening.