Varex Imaging (NASDAQ:VREX) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Varex Imaging (NASDAQ:VREX) have been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $16.8750.

A number of equities research analysts have weighed in on the company. B. Riley Financial lowered Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. CJS Securities lowered Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday. Zacks Research downgraded Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Oppenheimer lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th.

Varex Imaging Price Performance

Varex Imaging stock opened at $18.46 on Tuesday. The stock has a market cap of $777.17 million, a price-to-earnings ratio of 35.50 and a beta of 0.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. Varex Imaging has a 1 year low of $9.09 and a 1 year high of $18.63. The firm has a 50-day moving average of $11.77 and a two-hundred day moving average of $11.70.

Varex Imaging (NASDAQ:VREX) last issued its earnings results on Monday, August 10th. The company reported $0.31 EPS for the quarter, topping 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 business had revenue of $210.50 million for the quarter, compared to the consensus estimate of $215.50 million. On average, research analysts forecast that Varex Imaging will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Varex Imaging

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC raised its stake in Varex Imaging by 7.3% in the first quarter. Empowered Funds LLC now owns 179,128 shares of the company’s stock worth $2,078,000 after buying an additional 12,151 shares in the last quarter. Jane Street Group LLC lifted its holdings in Varex Imaging by 17.9% during the first quarter. Jane Street Group LLC now owns 159,362 shares of the company’s stock worth $1,849,000 after buying an additional 24,160 shares during the period. Rhumbline Advisers boosted its position in Varex Imaging by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 61,820 shares of the company’s stock valued at $536,000 after acquiring an additional 2,694 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Varex Imaging by 19.7% in the 2nd quarter. Hsbc Holdings PLC now owns 47,525 shares of the company’s stock valued at $408,000 after acquiring an additional 7,825 shares during the period. Finally, Quantbot Technologies LP increased its holdings in shares of Varex Imaging by 25.1% in the 2nd quarter. Quantbot Technologies LP now owns 47,292 shares of the company’s stock valued at $410,000 after acquiring an additional 9,476 shares during the period.

About Varex Imaging

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.