Zacks Investment Research Upgrades VAREX IMAGING (VREX) to Hold
Zacks Investment Research upgraded shares of VAREX IMAGING (NASDAQ:VREX) from a strong sell rating to a hold rating in a report issued on Thursday morning.
According to Zacks, “Varex Imaging Corporation is an innovator, designer and manufacturer of X-ray imaging components which include tubes, digital flat panel detectors and other image processing solutions. Its components are used in medical imaging as well as industrial and security imaging applications. The company operates primarily in North America, Europe and Asia. Varex Imaging Corporation is based in Salt Lake City, United States. “
Several other research analysts have also recently commented on VREX. J P Morgan Chase & Co cut shares of VAREX IMAGING from a neutral rating to an underweight rating and set a $33.00 target price for the company. in a report on Wednesday, October 4th. Jefferies Group LLC assumed coverage on shares of VAREX IMAGING in a report on Wednesday, August 9th. They issued a buy rating and a $34.00 target price for the company.
Shares of VAREX IMAGING (NASDAQ:VREX) opened at 33.17 on Thursday. VAREX IMAGING has a one year low of $25.00 and a one year high of $36.58. The stock has a market cap of $1.25 billion and a P/E ratio of 21.22. The firm has a 50 day moving average of $30.07 and a 200 day moving average of $32.61.
VAREX IMAGING (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The firm had revenue of $170.00 million for the quarter, compared to the consensus estimate of $179.05 million. VAREX IMAGING’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 $1.75 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the business. Security National Trust Co. acquired a new position in shares of VAREX IMAGING in the second quarter worth about $108,000. Ameritas Investment Partners Inc. acquired a new position in shares of VAREX IMAGING in the second quarter worth about $112,000. Howard Hughes Medical Institute acquired a new position in shares of VAREX IMAGING in the second quarter worth about $134,000. Oppenheimer Asset Management Inc. acquired a new position in shares of VAREX IMAGING in the second quarter worth about $136,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of VAREX IMAGING in the second quarter worth about $147,000. Institutional investors own 91.72% 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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