Varex Imaging (VREX) Upgraded to Hold at Zacks Investment Research
Varex Imaging (NASDAQ:VREX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released 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. “
Several other brokerages have also weighed in on VREX. J P Morgan Chase & Co lowered Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research note on Wednesday. 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 price target for the company.
Varex Imaging (NASDAQ VREX) opened at 33.34 on Thursday. The stock has a 50 day moving average price of $30.07 and a 200-day moving average price of $32.61. The company has a market cap of $1.25 billion and a price-to-earnings ratio of 21.33. Varex Imaging has a 1-year low of $25.00 and a 1-year high of $36.58.
Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The company had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $179.05 million. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts forecast that Varex Imaging will post $1.75 EPS for the current year.
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Large investors have recently bought and sold shares of the business. American Century Companies Inc. purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $5,715,000. Oppenheimer & Close LLC purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $7,784,000. Menta Capital LLC purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $2,060,000. Nicholas Company Inc. purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $5,211,000. Finally, SG Americas Securities LLC purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $1,062,000. Institutional investors own 91.72% of the company’s stock.
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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