Zacks: Varex Imaging (VREX) Receives Consensus Rating of “Buy” from Analysts
Varex Imaging (NASDAQ:VREX) has received an average broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and two have assigned a strong buy recommendation to the company. Varex Imaging’s rating score has declined by 39.5% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus price target of $37.33 for the company and are forecasting that the company will post $0.40 EPS for the current quarter, according to Zacks. Zacks has also given Varex Imaging an industry rank of 176 out of 265 based on the ratings given to related companies.
A number of research firms recently issued reports on VREX. Jefferies Group began coverage on Varex Imaging in a research report on Wednesday, August 9th. They set a “buy” rating and a $34.00 price objective for the company. J P Morgan Chase & Co raised Varex Imaging from an “underweight” rating to a “neutral” rating and set a $33.00 target price on the stock in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded Varex Imaging from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th.
Several hedge funds have recently modified their holdings of VREX. Hussman Strategic Advisors Inc. purchased a new position in shares of Varex Imaging during the second quarter valued at $147,000. Independent Order of Foresters purchased a new position in Varex Imaging in the second quarter valued at about $243,000. Seaward Management Limited Partnership purchased a new position in Varex Imaging in the second quarter valued at about $213,000. Schwab Charles Investment Management Inc. purchased a new position in Varex Imaging in the second quarter valued at about $5,349,000. Finally, Foundry Partners LLC purchased a new position in Varex Imaging in the second quarter valued at about $455,000. Institutional investors and hedge funds own 92.79% of the company’s stock.
Shares of Varex Imaging (NASDAQ:VREX) traded down $0.01 during midday trading on Wednesday, reaching $37.61. The company’s stock had a trading volume of 190,100 shares, compared to its average volume of 425,641. Varex Imaging has a 12-month low of $25.00 and a 12-month high of $38.80. The company has a quick ratio of 1.72, a current ratio of 3.26 and a debt-to-equity ratio of 1.22.
Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data 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 business had revenue of $216.00 million for the quarter, compared to analyst estimates of $213.73 million. The business’s revenue was up 25.5% on a year-over-year basis. equities analysts expect that Varex Imaging will post 1.82 earnings per share for the current fiscal year.
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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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