Varex Imaging (VREX) Downgraded to D+ at TheStreet

TheStreet downgraded shares of Varex Imaging (NASDAQ:VREX) from a c- rating to a d+ rating in a report published on Friday morning.

Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Varex Imaging from a strong sell rating to a hold rating in a report on Thursday, October 4th. ValuEngine downgraded shares of Varex Imaging from a buy rating to a hold rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Varex Imaging to $33.00 and set a buy rating for the company in a report on Friday, August 3rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $37.00.

Varex Imaging stock opened at $25.18 on Friday. Varex Imaging has a fifty-two week low of $24.06 and a fifty-two week high of $43.76. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.16 and a quick ratio of 1.42. The company has a market capitalization of $937.38 million, a P/E ratio of 13.99, a P/E/G ratio of 1.55 and a beta of 1.88.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Thursday, August 2nd. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.17). Varex Imaging had a net margin of 5.39% and a return on equity of 15.16%. The company had revenue of $191.20 million during the quarter, compared to analyst estimates of $196.88 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts expect that Varex Imaging will post 1.33 EPS for the current year.

In other Varex Imaging news, CEO Sunny Sanyal purchased 7,000 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was bought at an average price of $28.18 per share, with a total value of $197,260.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Clarence R. Verhoef purchased 3,300 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was acquired at an average cost of $29.58 per share, with a total value of $97,614.00. The disclosure for this purchase can be found here. Insiders purchased a total of 20,300 shares of company stock valued at $578,774 in the last quarter. 1.60% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in Varex Imaging by 9.5% in the 2nd quarter. BlackRock Inc. now owns 5,549,006 shares of the company’s stock valued at $205,812,000 after buying an additional 479,694 shares during the period. Bank of America Corp DE boosted its position in Varex Imaging by 11.1% in the 2nd quarter. Bank of America Corp DE now owns 979,130 shares of the company’s stock valued at $36,315,000 after buying an additional 97,742 shares during the period. Commonwealth Bank of Australia boosted its position in Varex Imaging by 16.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 812,907 shares of the company’s stock valued at $30,145,000 after buying an additional 115,342 shares during the period. Dimensional Fund Advisors LP boosted its position in Varex Imaging by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 645,581 shares of the company’s stock valued at $23,944,000 after buying an additional 31,724 shares during the period. Finally, Cooke & Bieler LP boosted its position in Varex Imaging by 46.0% in the 2nd quarter. Cooke & Bieler LP now owns 640,460 shares of the company’s stock valued at $23,755,000 after buying an additional 201,929 shares during the period. 93.52% of the stock is owned by institutional investors.

Varex Imaging Company Profile

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 flat panel image 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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