Varex Imaging (NASDAQ:VREX) received a $31.00 target price from equities research analysts at Jefferies Financial Group in a report issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 20.25% from the company’s previous close. Jefferies Financial Group also issued estimates for Varex Imaging’s FY2020 earnings at $1.31 EPS, FY2021 earnings at $1.45 EPS and FY2022 earnings at $1.65 EPS.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Varex Imaging from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 11th. Finally, Northland Securities reaffirmed a “buy” rating and set a $42.00 target price on shares of Varex Imaging in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $34.20.

NASDAQ VREX traded down $0.60 during trading hours on Monday, hitting $25.78. 12,759 shares of the company’s stock were exchanged, compared to its average volume of 287,022. The firm has a 50-day moving average of $30.15. Varex Imaging has a 1-year low of $21.57 and a 1-year high of $35.00. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.95 and a beta of 1.80. The company has a current ratio of 2.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Tuesday, August 6th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.07). Varex Imaging had a return on equity of 10.01% and a net margin of 0.97%. The business had revenue of $196.70 million for the quarter, compared to analyst estimates of $189.42 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Varex Imaging will post 1.34 EPS for the current year.

In other Varex Imaging news, SVP Kimberley E. Honeysett sold 916 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $30.00, for a total value of $27,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin Bruce Yankton sold 1,149 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $31.00, for a total value of $35,619.00. The disclosure for this sale can be found here. Insiders sold 2,905 shares of company stock valued at $87,677 in the last three months. Insiders own 2.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC lifted its holdings in shares of Varex Imaging by 12.3% in the second quarter. Pzena Investment Management LLC now owns 1,189,543 shares of the company’s stock valued at $36,459,000 after purchasing an additional 129,837 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Varex Imaging by 3.6% in the second quarter. Bank of America Corp DE now owns 1,084,663 shares of the company’s stock valued at $33,244,000 after purchasing an additional 37,409 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Varex Imaging by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,042,185 shares of the company’s stock valued at $24,679,000 after purchasing an additional 193,194 shares in the last quarter. Norges Bank bought a new position in shares of Varex Imaging in the fourth quarter valued at approximately $15,042,000. Finally, JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 572,003 shares during the period. Institutional investors own 89.65% of the company’s stock.

About Varex Imaging

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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Analyst Recommendations for Varex Imaging (NASDAQ:VREX)

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