Wall Street brokerages forecast that Varex Imaging Corp (NASDAQ:VREX) will report $202.49 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Varex Imaging’s earnings. The highest sales estimate is $205.20 million and the lowest is $199.16 million. Varex Imaging reported sales of $204.80 million in the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 12th.

On average, analysts expect that Varex Imaging will report full-year sales of $780.72 million for the current year, with estimates ranging from $777.36 million to $783.50 million. For the next financial year, analysts anticipate that the firm will report sales of $801.74 million, with estimates ranging from $788.30 million to $816.73 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Varex Imaging.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The company had revenue of $196.70 million for the quarter, compared to analyst estimates of $189.42 million. Varex Imaging had a return on equity of 10.01% and a net margin of 0.97%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share.

Several analysts have recently commented on the company. CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 11th. Jefferies Financial Group set a $31.00 price target on Varex Imaging and gave the company a “buy” rating in a report on Monday, August 12th. Northland Securities reissued a “buy” rating and issued a $42.00 price target on shares of Varex Imaging in a report on Wednesday, August 7th. Finally, Zacks Investment Research cut Varex Imaging from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.20.

VREX opened at $29.39 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.58 and a quick ratio of 1.04. The business has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $30.33. The stock has a market capitalization of $1.14 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.28 and a beta of 1.88. Varex Imaging has a 12 month low of $21.57 and a 12 month high of $35.00.

In related news, insider Kevin Bruce Yankton sold 1,149 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $31.00, for a total value of $35,619.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kimberley E. Honeysett sold 916 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $30.00, for a total value of $27,480.00. The disclosure for this sale can be found here. Insiders sold a total of 2,333 shares of company stock valued at $71,289 over the last ninety days. 2.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VREX. Pzena Investment Management LLC increased its position in Varex Imaging by 12.3% during the second quarter. Pzena Investment Management LLC now owns 1,189,543 shares of the company’s stock worth $36,459,000 after buying an additional 129,837 shares in the last quarter. Bank of America Corp DE increased its position in Varex Imaging by 3.6% during the second quarter. Bank of America Corp DE now owns 1,084,663 shares of the company’s stock worth $33,244,000 after buying an additional 37,409 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Varex Imaging by 22.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,042,185 shares of the company’s stock worth $24,679,000 after buying an additional 193,194 shares in the last quarter. Morgan Stanley increased its position in Varex Imaging by 2,325.1% during the second quarter. Morgan Stanley now owns 812,201 shares of the company’s stock worth $24,893,000 after buying an additional 778,710 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Varex Imaging by 1,684.8% during the second quarter. JPMorgan Chase & Co. now owns 605,954 shares of the company’s stock worth $18,185,000 after buying an additional 572,003 shares in the last quarter. 92.23% of the stock is owned by hedge funds and other institutional investors.

Varex Imaging Company Profile

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

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Earnings History and Estimates for Varex Imaging (NASDAQ:VREX)

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