Varex Imaging (NASDAQ:VREX) Hits New 1-Year Low at $16.66

Varex Imaging Co. (NASDAQ:VREX)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $16.66 and last traded at $16.66, with a volume of 116742 shares trading hands. The stock had previously closed at $17.18.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded Varex Imaging from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th.

Varex Imaging Price Performance

The business has a fifty day moving average price of $17.43 and a 200 day moving average price of $18.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.30 and a quick ratio of 2.37. The company has a market capitalization of $686.95 million, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Tuesday, February 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). The company had revenue of $190.00 million for the quarter, compared to analyst estimates of $187.97 million. Varex Imaging had a net margin of 5.08% and a return on equity of 9.21%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. On average, research analysts expect that Varex Imaging Co. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Varex Imaging by 0.6% in the 2nd quarter. BlackRock Inc. now owns 7,498,401 shares of the company’s stock worth $176,737,000 after purchasing an additional 47,691 shares during the last quarter. Vanguard Group Inc. grew its position in Varex Imaging by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,452,336 shares of the company’s stock worth $94,122,000 after buying an additional 76,727 shares during the last quarter. Shapiro Capital Management LLC increased its holdings in shares of Varex Imaging by 5.7% in the first quarter. Shapiro Capital Management LLC now owns 3,146,292 shares of the company’s stock valued at $66,985,000 after buying an additional 168,322 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Varex Imaging by 0.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,033,263 shares of the company’s stock valued at $62,182,000 after acquiring an additional 14,963 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Varex Imaging by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,519,686 shares of the company’s stock worth $51,654,000 after acquiring an additional 145,968 shares in the last quarter.

Varex Imaging Company Profile

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.