Zacks: Analysts Set $37.33 Target Price for Varex Imaging (VREX)
Varex Imaging (NASDAQ:VREX) has been assigned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and two have given a strong buy rating to the company. Varex Imaging’s rating score has declined by 39.5% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a 1 year consensus price objective of $37.33 for the company and are anticipating that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Varex Imaging an industry rank of 188 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on VREX shares. Jefferies Group upped their target price on shares of Varex Imaging to $39.00 and gave the company a “buy” rating in a report on Friday, November 10th. 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 on the stock. in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th.
Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.07. The firm had revenue of $216.00 million during the quarter, compared to the consensus estimate of $213.73 million. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. equities analysts forecast that Varex Imaging will post 1.82 earnings per share for the current year.
In other news, insider Sunny Sanyal sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $36.50, for a total value of $1,825,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds have recently modified their holdings of the company. Security National Trust Co. bought a new position in Varex Imaging in the 2nd quarter valued at about $108,000. Ameritas Investment Partners Inc. bought a new position in Varex Imaging in the 2nd quarter valued at about $112,000. Howard Hughes Medical Institute bought a new position in Varex Imaging in the 2nd quarter valued at about $134,000. Oppenheimer Asset Management Inc. bought a new position in Varex Imaging in the 2nd quarter valued at about $136,000. Finally, Hussman Strategic Advisors Inc. bought a new position in Varex Imaging in the 2nd quarter valued at about $147,000. 92.79% of the stock is currently owned by institutional investors.
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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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