StockNews.com Downgrades Varex Imaging (NASDAQ:VREX) to Hold

StockNews.com downgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a research report released on Monday morning.

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

Varex Imaging Trading Up 0.9 %

Shares of VREX stock opened at $15.89 on Monday. Varex Imaging has a fifty-two week low of $14.56 and a fifty-two week high of $23.90. The stock’s fifty day moving average price is $17.21 and its two-hundred day moving average price is $18.43. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.37 and a current ratio of 4.23. The company has a market cap of $649.90 million, a PE ratio of 17.85, a P/E/G ratio of 2.25 and a beta of 0.72.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). Varex Imaging had a net margin of 4.90% and a return on equity of 8.26%. The business had revenue of $206.20 million during the quarter, compared to analyst estimates of $205.15 million. During the same period last year, the business earned $0.26 earnings per share. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that Varex Imaging will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Varex Imaging during the fourth quarter valued at about $30,000. Federated Hermes Inc. boosted its position in Varex Imaging by 216.3% during the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after buying an additional 1,218 shares during the period. GAMMA Investing LLC bought a new stake in Varex Imaging during the 4th quarter worth approximately $53,000. Inspire Advisors LLC acquired a new position in Varex Imaging in the 1st quarter valued at approximately $184,000. Finally, Jump Financial LLC acquired a new position in Varex Imaging in the 4th quarter valued at approximately $214,000.

Varex Imaging Company Profile

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.