Varex Imaging (NASDAQ:VREX) Issues Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Varex Imaging (NASDAQ:VREX) released its quarterly earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10, FiscalAI reports. Varex Imaging had a positive return on equity of 8.19% and a negative net margin of 9.64%.The business had revenue of $210.50 million during the quarter, compared to the consensus estimate of $215.50 million.

Varex Imaging Stock Performance

Shares of Varex Imaging stock opened at $12.41 on Monday. The company has a quick ratio of 1.43, a current ratio of 3.20 and a debt-to-equity ratio of 0.67. Varex Imaging has a 12-month low of $8.42 and a 12-month high of $14.56. The company has a market capitalization of $522.46 million, a price-to-earnings ratio of -6.21 and a beta of 0.89. The firm’s 50-day moving average price is $10.77 and its two-hundred day moving average price is $11.51.

Institutional Trading of Varex Imaging

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Varex Imaging by 4.4% during the third quarter. Vanguard Group Inc. now owns 2,989,847 shares of the company’s stock valued at $37,074,000 after purchasing an additional 126,396 shares in the last quarter. Millennium Management LLC lifted its stake in Varex Imaging by 119.8% during the third quarter. Millennium Management LLC now owns 913,169 shares of the company’s stock worth $11,323,000 after purchasing an additional 497,650 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Varex Imaging by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 831,810 shares of the company’s stock valued at $9,691,000 after purchasing an additional 90,588 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Varex Imaging by 41.2% in the 4th quarter. AQR Capital Management LLC now owns 571,484 shares of the company’s stock valued at $6,658,000 after purchasing an additional 166,710 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Varex Imaging by 5.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,793 shares of the company’s stock valued at $6,569,000 after purchasing an additional 26,488 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VREX. Zacks Research cut shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Varex Imaging in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.17.

Varex Imaging News Summary

Here are the key news stories impacting Varex Imaging this week:

• Positive Sentiment: Teledyne takeover provides a significant valuation catalyst. Teledyne will pay $18.90 per Varex share, subject to customary closing conditions and approvals. The offer represents a substantial premium to Varex’s recent trading level, giving investors a clearly defined cash exit value. Teledyne to acquire Varex Imaging in $1.1 billion deal
• Positive Sentiment: Varex delivered an earnings beat on profit. Quarterly earnings per share exceeded the analyst consensus estimate of $0.21, with the company reporting $15.7 million of attributable net income and $21 million in operating cash flow. Varex Imaging earnings results
• Neutral Sentiment: Revenue growth remained modest but positive. Fiscal third-quarter revenue was $210.5 million, up 4% year over year, including $134.0 million from Medical and $76.5 million from Industrial. The company also reported a 36.4% GAAP gross margin and $99 million in cash, cash equivalents and marketable securities. Varex Announces Financial Results for Third Quarter Fiscal Year 2026
• Negative Sentiment: Revenue fell short of expectations and the company withdrew normal investor communication. Revenue missed the approximately $215.5 million consensus estimate. Varex canceled its earnings conference call and will not provide financial guidance because of the Teledyne transaction, reducing visibility into standalone operating prospects. The quarter also included a $7 million reduction to revenue for expected customer reimbursements, partly offset by a $17 million U.S. Customs tariff refund.

About Varex Imaging

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.