Varex Imaging (NASDAQ:VREX) Announces Earnings Results

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

Varex Imaging Trading Up 48.8%

Shares of NASDAQ:VREX opened at $18.46 on Tuesday. The firm has a fifty day moving average of $10.93 and a two-hundred day moving average of $11.55. 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 $9.09 and a 12-month high of $18.49. The firm has a market capitalization of $777.17 million, a P/E ratio of -9.23 and a beta of 0.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VREX shares. B. Riley Financial downgraded Varex Imaging from a “buy” rating to a “neutral” rating in a report on Monday. Oppenheimer downgraded shares of Varex Imaging to a “market perform” rating in a research report on Monday. Sidoti reissued a “neutral” rating and issued a $19.00 target price on shares of Varex Imaging in a research report on Monday. Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Varex Imaging in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Varex Imaging presently has an average rating of “Reduce” and an average price target of $16.88.

Varex Imaging News Roundup

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

• Positive Sentiment: Teledyne buyout establishes a clear valuation. Teledyne will acquire Varex in an all-cash transaction valued at approximately $1.1 billion, paying $18.90 per share. The offer was approved by both companies’ boards and is the main catalyst behind the stock’s move toward the proposed cash consideration. Teledyne to acquire Varex Imaging in $1.1 billion deal
• Positive Sentiment: Varex exceeded earnings expectations. Fiscal third-quarter adjusted earnings were $0.31 per diluted share, above analyst estimates of roughly $0.21-$0.22 and up from $0.13-$0.18 a year earlier, depending on the measure used. Revenue rose 4% year over year to $210.5 million, while GAAP net income was $15.7 million. Varex Imaging Q3 earnings beat estimates
• Positive Sentiment: Operating performance and cash flow improved. Varex reported 36.4% GAAP gross margin, 10.8% operating margin and $21 million in operating cash flow. The quarter also benefited from a $17 million U.S. Customs refund related to previously paid tariffs.
• Neutral Sentiment: The stock is trading close to the offer price. Shares recently traded near $18.40, limiting the remaining upside to the $18.90 consideration. Investors are now primarily exposed to deal-completion timing and closing risk rather than Varex’s standalone earnings outlook.
• Negative Sentiment: Varex suspended guidance and its earnings call. Because of the pending transaction, the company canceled its earnings conference call and will not provide financial guidance, reducing visibility into future standalone results. Varex Announces Financial Results for Third Quarter Fiscal Year 2026
• Negative Sentiment: A shareholder-rights investigation adds a risk factor. Halper Sadeh LLC announced an investigation into whether Varex shareholders are receiving a fair price, potentially creating additional scrutiny or delays, although no adverse finding has been reported.

Institutional Trading of Varex Imaging

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

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.