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

Shares of Varex Imaging (NASDAQ:VREX) have received an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.88.

A number of research analysts have commented on VREX shares. Sidoti downgraded Varex Imaging from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Monday, August 10th. Wall Street Zen upgraded Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. B. Riley Financial downgraded Varex Imaging from a “buy” rating to a “hold” rating in a report on Monday, August 10th. CJS Securities lowered shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th.

Varex Imaging Trading Down 0.1%

Varex Imaging stock opened at $18.43 on Friday. The company’s fifty day simple moving average is $18.46 and its 200-day simple moving average is $13.62. 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 12 month low of $9.09 and a 12 month high of $18.63. The stock has a market cap of $775.90 million, a P/E ratio of 35.44 and a beta of 0.97.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share 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. As a group, sell-side analysts forecast that Varex Imaging will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Varex Imaging news, Director Jay Kunkel sold 8,121 shares of the stock in a transaction 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 transaction, the director directly owned 15,329 shares of the company’s stock, valued at $283,279.92. This represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shubham Maheshwari sold 130,000 shares of the stock in a transaction on Friday, September 11th. The stock was sold at an average price of $18.46, for a total transaction of $2,399,800.00. Following the transaction, the chief financial officer directly owned 139,972 shares in the company, valued at $2,583,883.12. The trade was a 48.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Varex Imaging

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Varex Imaging by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock valued at $31,000 after acquiring an additional 655 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Varex Imaging in the 4th quarter valued at approximately $27,000. Fortitude Family Office LLC raised its stake in shares of Varex Imaging by 1,643.6% in 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 in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Varex Imaging in the 2nd quarter worth approximately $32,000. Finally, Farther Finance Advisors LLC lifted its holdings in Varex Imaging by 177.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock worth $66,000 after purchasing an additional 2,274 shares during the last quarter.

About Varex Imaging

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.