Varex Imaging (NASDAQ:VREX) Given Average Rating of “Buy” by Brokerages
Varex Imaging (NASDAQ:VREX) has received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company. Varex Imaging’s rating score has improved by 44.3% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a one year consensus target price of $35.67 for the company and are predicting that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also assigned Varex Imaging an industry rank of 155 out of 265 based on the ratings given to related companies.
A number of research analysts have issued reports on the stock. Jefferies Group LLC began coverage on shares of Varex Imaging in a report on Wednesday, August 9th. They set a “buy” rating and a $34.00 price target for the company. Zacks Investment Research downgraded shares of Varex Imaging from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, J P Morgan Chase & Co raised shares of Varex Imaging from an “underweight” rating to a “neutral” rating and set a $33.00 price target for the company in a report on Tuesday, August 8th.
Shares of Varex Imaging (NASDAQ VREX) traded up 2.697% during trading on Monday, reaching $29.895. The company’s stock had a trading volume of 81,065 shares. Varex Imaging has a 12 month low of $25.00 and a 12 month high of $36.58. The company’s 50-day moving average is $31.81 and its 200-day moving average is $32.53. The company has a market capitalization of $1.12 billion and a P/E ratio of 19.127.
Varex Imaging (NASDAQ:VREX) last announced its quarterly 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 company had revenue of $170 million for the quarter, compared to analyst estimates of $179.05 million. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts forecast that Varex Imaging will post $1.75 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new position in Varex Imaging during the second quarter valued at about $677,000. Numeric Investors LLC acquired a new position in Varex Imaging during the second quarter valued at about $5,486,000. Voya Investment Management LLC acquired a new position in Varex Imaging during the second quarter valued at about $589,000. OxFORD Asset Management LLP acquired a new position in Varex Imaging during the second quarter valued at about $8,589,000. Finally, Dimensional Fund Advisors LP acquired a new position in Varex Imaging during the second quarter valued at about $9,048,000. 91.35% of the stock is owned by hedge funds and other 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.
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