Shares of Varex Imaging Corp (NASDAQ:VREX) have earned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $28.00.
VREX has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 4th. Jefferies Financial Group restated a “buy” rating on shares of Varex Imaging in a research note on Thursday, November 15th. TheStreet lowered shares of Varex Imaging from a “c-” rating to a “d+” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. decreased their price target on shares of Varex Imaging from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, November 14th. Finally, ValuEngine lowered shares of Varex Imaging from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd.
A number of hedge funds have recently made changes to their positions in VREX. FMR LLC increased its stake in Varex Imaging by 465.2% during the 3rd quarter. FMR LLC now owns 1,400,147 shares of the company’s stock valued at $40,129,000 after purchasing an additional 1,152,410 shares in the last quarter. BlackRock Inc. grew its stake in shares of Varex Imaging by 9.5% in the 2nd quarter. BlackRock Inc. now owns 5,549,006 shares of the company’s stock worth $205,812,000 after acquiring an additional 479,694 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Varex Imaging by 1,106.1% in the 2nd quarter. WINTON GROUP Ltd now owns 494,541 shares of the company’s stock worth $18,343,000 after acquiring an additional 453,536 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Varex Imaging by 50.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 1,219,322 shares of the company’s stock worth $34,941,000 after acquiring an additional 406,415 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Varex Imaging by 154.4% in the 3rd quarter. Royce & Associates LP now owns 383,558 shares of the company’s stock worth $10,993,000 after acquiring an additional 232,770 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.
Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). The business had revenue of $204.80 million for the quarter, compared to the consensus estimate of $192.10 million. Varex Imaging had a net margin of 3.56% and a return on equity of 11.96%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. Sell-side analysts expect that Varex Imaging will post 1.35 EPS for the current fiscal year.
About Varex Imaging
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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