Varex Imaging (NASDAQ:VREX) Stock Rating Upgraded by CJS Securities

CJS Securities upgraded shares of Varex Imaging (NASDAQ:VREX) from a market perform rating to an outperform rating in a report issued on Tuesday morning, Briefing.com Automated Import reports.

Other research analysts have also recently issued reports about the stock. Northland Securities reissued a buy rating and set a $42.00 price target on shares of Varex Imaging in a research report on Wednesday, May 15th. Zacks Investment Research upgraded 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 note on Saturday, May 11th. Two analysts have rated the stock with a hold rating and five have issued 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.

VREX stock opened at $29.02 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.13 and a current ratio of 2.80. Varex Imaging has a 52 week low of $21.57 and a 52 week high of $39.39. The firm has a market cap of $1.07 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.73.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $194.76 million. During the same quarter in the prior year, the company posted $0.45 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts expect that Varex Imaging will post 1.33 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of VREX. Fifth Third Bancorp lifted its position 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 valued at $52,000 after buying an additional 389 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Varex Imaging by 478.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock worth $55,000 after purchasing an additional 1,388 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Varex Imaging by 125.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock worth $43,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Varex Imaging by 62.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock worth $44,000 after purchasing an additional 712 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Varex Imaging by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock valued at $69,000 after buying an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

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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Analyst Recommendations for Varex Imaging (NASDAQ:VREX)

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