Varex Imaging (VREX) Upgraded to Neutral by J P Morgan Chase & Co
Varex Imaging (NASDAQ:VREX) was upgraded by investment analysts at J P Morgan Chase & Co from an “underweight” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports. The firm presently has a $33.00 target price on the stock. J P Morgan Chase & Co’s target price suggests a potential upside of 14.19% from the stock’s previous close.
Separately, Zacks Investment Research lowered Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 7th.
Shares of Varex Imaging (NASDAQ:VREX) opened at 28.90 on Tuesday. Varex Imaging has a 12 month low of $25.00 and a 12 month high of $36.58. The company has a market capitalization of $1.09 billion and a PE ratio of 16.55. The firm has a 50-day moving average price of $32.13 and a 200-day moving average price of $32.54.
Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $170 million during the quarter, compared to analyst estimates of $179.05 million. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Varex Imaging will post $1.80 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Security National Trust Co. bought a new stake in Varex Imaging during the second quarter worth approximately $108,000. Oppenheimer Asset Management Inc. bought a new stake in Varex Imaging during the second quarter worth approximately $136,000. Hussman Strategic Advisors Inc. bought a new stake in Varex Imaging during the second quarter worth approximately $147,000. Seaward Management Limited Partnership bought a new stake in Varex Imaging during the second quarter worth approximately $213,000. Finally, Independent Order of Foresters bought a new stake in Varex Imaging during the second quarter worth approximately $243,000. Hedge funds and other institutional investors own 91.24% of the company’s stock.
Varex Imaging Company Profile
Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.
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