Zacks: Varex Imaging Corp (VREX) Given Consensus Rating of “Buy” by Brokerages
Shares of Varex Imaging Corp (NASDAQ:VREX) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Varex Imaging’s rating score has improved by 14.2% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price target of $38.50 for the company and are anticipating that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Varex Imaging an industry rank of 193 out of 265 based on the ratings given to its competitors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised shares of Varex Imaging from an “underweight” rating to a “neutral” rating in a report on Wednesday, December 20th.
Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.17). Varex Imaging had a return on equity of 16.90% and a net margin of 7.24%. The firm had revenue of $176.20 million for the quarter, compared to the consensus estimate of $194.00 million. During the same period last year, the company posted $0.37 EPS. The business’s revenue was up 11.9% on a year-over-year basis. equities analysts predict that Varex Imaging will post 1.87 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in Varex Imaging in the 2nd quarter valued at approximately $112,000. Texas Yale Capital Corp. bought a new position in Varex Imaging in the 4th quarter valued at approximately $200,000. Welch & Forbes LLC bought a new position in Varex Imaging in the 4th quarter valued at approximately $205,000. Xact Kapitalforvaltning AB bought a new position in Varex Imaging in the 4th quarter valued at approximately $218,000. Finally, GHP Investment Advisors Inc. bought a new position in Varex Imaging in the 4th quarter valued at approximately $221,000. 91.78% of the stock is owned by institutional investors.
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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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