Varex Imaging (NASDAQ:VREX) Hits New 12-Month Low at $16.66

Varex Imaging Co. (NASDAQ:VREX) reached a new 52-week low on Wednesday . The company traded as low as $16.66 and last traded at $16.66, with a volume of 116742 shares traded. The stock had previously closed at $17.18.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of Varex Imaging from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th.

Varex Imaging Price Performance

The company has a quick ratio of 2.37, a current ratio of 4.30 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $679.64 million, a price-to-earnings ratio of 17.60, a P/E/G ratio of 2.51 and a beta of 0.69. The company’s 50-day simple moving average is $17.45 and its 200 day simple moving average is $18.68.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Tuesday, February 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). Varex Imaging had a return on equity of 9.21% and a net margin of 5.08%. The business had revenue of $190.00 million for the quarter, compared to analyst estimates of $187.97 million. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. Equities research analysts forecast that Varex Imaging Co. will post 0.99 EPS for the current year.

Institutional Investors Weigh In On Varex Imaging

A number of hedge funds have recently bought and sold shares of VREX. Pacer Advisors Inc. bought a new stake in Varex Imaging during the fourth quarter valued at about $20,481,000. BlackRock Inc. lifted its stake in shares of Varex Imaging by 5.1% in the third quarter. BlackRock Inc. now owns 7,116,701 shares of the company’s stock valued at $150,448,000 after buying an additional 345,392 shares during the period. Norges Bank bought a new stake in shares of Varex Imaging in the fourth quarter valued at about $6,602,000. First Eagle Investment Management LLC bought a new stake in shares of Varex Imaging in the third quarter valued at about $5,098,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Varex Imaging by 12.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,226,831 shares of the company’s stock valued at $40,505,000 after buying an additional 238,208 shares during the period.

About Varex Imaging

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.