J P Morgan Chase & Co cut shares of Varex Imaging (NASDAQ:VREX) from a neutral rating to an underweight rating in a report released on Wednesday, MarketBeat reports. The firm currently has $33.00 price objective on the stock.

Several other brokerages also recently commented on VREX. Jefferies Group LLC initiated coverage on shares of Varex Imaging in a research note on Wednesday, August 9th. They set a buy rating and a $34.00 price objective for the company. Zacks Investment Research downgraded shares of Varex Imaging from a strong-buy rating to a hold rating in a research note on Friday, July 7th.

Shares of Varex Imaging (NASDAQ VREX) opened at 33.17 on Wednesday. The company has a 50-day moving average price of $30.08 and a 200-day moving average price of $32.62. The firm has a market capitalization of $1.25 billion and a P/E ratio of 21.22. Varex Imaging has a 12-month low of $25.00 and a 12-month high of $36.58.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $170.00 million for the quarter, compared to analysts’ expectations of $179.05 million. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts predict that Varex Imaging will post $1.75 EPS for the current year.

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Several large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Varex Imaging during the second quarter valued at about $156,842,000. Vanguard Group Inc. bought a new position in shares of Varex Imaging during the second quarter valued at about $116,560,000. QV Investors Inc. bought a new position in shares of Varex Imaging during the second quarter valued at about $59,839,000. First Eagle Investment Management LLC bought a new position in shares of Varex Imaging during the second quarter valued at about $59,452,000. Finally, State Street Corp bought a new position in shares of Varex Imaging during the second quarter valued at about $34,722,000. 91.72% of the stock is owned by hedge funds and other institutional investors.

About Varex Imaging

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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