Varex Imaging (NASDAQ:VREX) Given a $31.00 Price Target by Jefferies Financial Group Analysts
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.
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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