Varex Imaging (VREX) Stock Rating Lowered by Zacks Investment Research
Varex Imaging (NASDAQ:VREX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday.
According to Zacks, “Varex Imaging Corporation is an innovator, designer and manufacturer of X-ray imaging components which include tubes, digital flat panel detectors and other image processing solutions. Its components are used in medical imaging as well as industrial and security imaging applications. The company operates primarily in North America, Europe and Asia. Varex Imaging Corporation is based in Salt Lake City, United States. “
VREX has been the subject of several other research reports. J P Morgan Chase & Co upgraded shares of Varex Imaging from an “underweight” rating to a “neutral” rating and set a $33.00 target price for the company in a report on Tuesday. Jefferies Group LLC assumed coverage on shares of Varex Imaging in a report on Wednesday. They issued a “buy” rating and a $34.00 target price for the company.
Varex Imaging (NASDAQ:VREX) opened at 28.90 on Thursday. Varex Imaging has a 52-week low of $25.00 and a 52-week high of $36.58. The firm has a 50 day moving average of $32.13 and a 200-day moving average of $32.54. The stock has a market cap of $1.09 billion and a PE ratio of 16.55.
Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.07. The firm had revenue of $170 million for the quarter, compared to analysts’ expectations of $179.05 million. Varex Imaging’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts anticipate that Varex Imaging will post $1.75 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Varex Imaging (VREX) Stock Rating Lowered by Zacks Investment Research” was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://www.watchlistnews.com/varex-imaging-vrex-stock-rating-lowered-by-zacks-investment-research/1467679.html.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. QV Investors Inc. bought a new position in Varex Imaging during the second quarter valued at approximately $59,839,000. First Eagle Investment Management LLC bought a new position in Varex Imaging during the second quarter valued at approximately $59,452,000. Bank of New York Mellon Corp bought a new position in Varex Imaging during the second quarter valued at approximately $15,286,000. Principal Financial Group Inc. bought a new position in Varex Imaging during the second quarter valued at approximately $12,001,000. Finally, Marshall Wace North America L.P. bought a new position in Varex Imaging during the second quarter valued at approximately $10,170,000. 91.24% of the stock is currently owned by institutional investors.
About Varex Imaging
Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Varex Imaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varex Imaging and related companies with Analyst Ratings Network's FREE daily email newsletter.