Varex Imaging (NASDAQ:VREX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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. “

A number of other analysts have also weighed in on VREX. Jefferies Group LLC raised their price target on shares of Varex Imaging to $39.00 and gave the company a “buy” rating in a report on Friday. 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 $0.01 during trading on Tuesday, hitting $34.68. 399,900 shares of the company were exchanged, compared to its average volume of 437,645. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.26 and a quick ratio of 1.72. Varex Imaging has a fifty-two week low of $25.00 and a fifty-two week high of $36.58.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $216.00 million during the quarter, compared to analyst estimates of $213.73 million. Varex Imaging’s quarterly revenue was up 25.5% compared to the same quarter last year. equities analysts predict that Varex Imaging will post 1.81 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in VREX. Hussman Strategic Advisors Inc. acquired a new stake in Varex Imaging during the 2nd quarter worth $147,000. Independent Order of Foresters acquired a new stake in Varex Imaging during the 2nd quarter worth $243,000. Seaward Management Limited Partnership acquired a new stake in Varex Imaging during the 2nd quarter worth $213,000. Schwab Charles Investment Management Inc. acquired a new stake in Varex Imaging during the 2nd quarter worth $5,349,000. Finally, Foundry Partners LLC acquired a new stake in Varex Imaging during the 2nd quarter worth $455,000. 92.94% 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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