Varex Imaging (VREX) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Varex Imaging (NASDAQ:VREX) from a strong sell rating to a hold rating in a research note published 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 a number of other reports. J P Morgan Chase & Co upgraded Varex Imaging from an underweight rating to a neutral rating and set a $33.00 target price for the company in a research note on Tuesday, August 8th. Jefferies Group LLC began coverage on Varex Imaging in a research note on Wednesday, August 9th. They issued a buy rating and a $34.00 target price for the company.
Varex Imaging (NASDAQ VREX) traded up 0.42% during mid-day trading on Thursday, reaching $33.17. The company’s stock had a trading volume of 122,291 shares. The firm has a market capitalization of $1.25 billion and a PE ratio of 21.22. The stock’s 50-day moving average is $30.08 and its 200-day moving average is $32.62. Varex Imaging has a 12 month low of $25.00 and a 12 month high of $36.58.
Varex Imaging (NASDAQ:VREX) last issued its earnings results on Thursday, August 3rd. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.07). The business had revenue of $170.00 million during the quarter, compared to the consensus estimate of $179.05 million. Varex Imaging’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Varex Imaging will post $1.75 EPS for the current year.
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A number of hedge funds have recently modified their holdings of the business. Burgundy Asset Management Ltd. bought a new stake in shares of Varex Imaging during the second quarter valued at approximately $7,732,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Varex Imaging during the second quarter valued at approximately $307,000. WINTON GROUP Ltd bought a new stake in shares of Varex Imaging during the second quarter valued at approximately $962,000. Public Employees Retirement System of Ohio bought a new stake in shares of Varex Imaging during the second quarter valued at approximately $1,049,000. Finally, Disciplined Growth Investors Inc. MN bought a new stake in shares of Varex Imaging during the second quarter valued at approximately $10,846,000. Institutional investors own 91.72% of the company’s stock.
Varex Imaging Company Profile
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.
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