Brokerages Set Varex Imaging (NASDAQ:VREX) PT at $16.88

Shares of Varex Imaging (NASDAQ:VREX) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation. The average 1 year price target among analysts that have issued a report on the stock in the last year is $16.8750.

A number of research firms have recently issued reports on VREX. Zacks Research lowered Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen upgraded Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. CJS Securities cut Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Oppenheimer downgraded Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Finally, Sidoti reaffirmed a “neutral” rating and set a $19.00 price objective on shares of Varex Imaging in a research report on Monday, August 10th.

Insider Buying and Selling at Varex Imaging

In other Varex Imaging news, Director Jay K. 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

Large investors have recently made changes to their positions in the stock. Pzena Investment Management LLC acquired a new stake in shares of Varex Imaging in the second quarter worth $45,312,000. BlackRock Inc. acquired a new position in Varex Imaging in the 2nd quarter valued at $40,624,000. Rice Hall James & Associates LLC bought a new position in Varex Imaging in the 2nd quarter worth $15,080,000. LSV Asset Management raised its holdings in Varex Imaging by 210.7% in the 4th quarter. LSV Asset Management now owns 1,244,329 shares of the company’s stock worth $14,496,000 after acquiring an additional 843,805 shares during the period. Finally, J. Goldman & Co LP acquired a new position in Varex Imaging during the 2nd quarter worth $6,215,000.

Varex Imaging Price Performance

VREX stock opened at $18.49 on Friday. Varex Imaging has a one year low of $9.09 and a one year high of $18.63. The firm has a 50-day moving average of $15.57 and a two-hundred day moving average of $12.52. The firm has a market capitalization of $778.43 million, a PE ratio of 35.56 and a beta of 0.96. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results 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 business had revenue of $210.50 million for the quarter, compared to analyst estimates of $215.50 million. On average, analysts forecast that Varex Imaging will post 1.04 earnings per share for the current year.

About Varex Imaging

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.

The company’s portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.

Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.