Zacks: Varex Imaging Corp (VREX) Given Average Rating of “Buy” by Brokerages
Varex Imaging Corp (NASDAQ:VREX) has been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a 1-year consensus price objective of $31.50 for the company and are forecasting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Varex Imaging an industry rank of 167 out of 255 based on the ratings given to related companies.
Several equities research analysts have recently weighed in on VREX shares. ValuEngine cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Jefferies Financial Group lowered their price target on shares of Varex Imaging to $33.00 and set a “buy” rating for the company in a research report on Friday, August 3rd. Finally, Zacks Investment Research raised shares of Varex Imaging from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, May 9th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in shares of Varex Imaging by 21.7% during the 1st quarter. Legal & General Group Plc now owns 85,430 shares of the company’s stock worth $3,053,000 after acquiring an additional 15,240 shares in the last quarter. Factorial Partners LLC bought a new position in shares of Varex Imaging during the 2nd quarter worth approximately $423,000. Prudential Financial Inc. raised its stake in shares of Varex Imaging by 2.7% during the 1st quarter. Prudential Financial Inc. now owns 63,814 shares of the company’s stock worth $2,283,000 after acquiring an additional 1,700 shares in the last quarter. CLARET ASSET MANAGEMENT Corp raised its stake in shares of Varex Imaging by 1.6% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 323,095 shares of the company’s stock worth $11,560,000 after acquiring an additional 5,067 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in shares of Varex Imaging by 59.6% during the 1st quarter. Earnest Partners LLC now owns 311,122 shares of the company’s stock worth $11,132,000 after acquiring an additional 116,144 shares in the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Shares of VREX opened at $29.73 on Friday. Varex Imaging has a fifty-two week low of $27.31 and a fifty-two week high of $43.76. The company has a market capitalization of $1.08 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.13 and a beta of 2.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.16 and a quick ratio of 1.42.
Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.17). Varex Imaging had a return on equity of 15.16% and a net margin of 5.39%. The business had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $196.88 million. During the same period in the previous year, the company posted $0.44 EPS. Varex Imaging’s revenue for the quarter was up 12.4% on a year-over-year basis. equities analysts expect that Varex Imaging will post 1.33 EPS for the current year.
Varex Imaging Company Profile
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 flat panel image 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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