Varex Imaging Corp (VREX) Expected to Announce Quarterly Sales of $193.61 Million

Brokerages predict that Varex Imaging Corp (NASDAQ:VREX) will post sales of $193.61 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Varex Imaging’s earnings. The highest sales estimate is $194.02 million and the lowest is $193.20 million. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Varex Imaging will report full year sales of $193.61 million for the current year, with estimates ranging from $792.22 million to $792.30 million. For the next fiscal year, analysts anticipate that the business will report sales of $814.96 million per share, with estimates ranging from $814.70 million to $815.22 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Varex Imaging.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. The firm had revenue of $216.00 million for the quarter, compared to analyst estimates of $213.73 million. The firm’s quarterly revenue was up 25.5% compared to the same quarter last year.

Several brokerages recently commented on VREX. JPMorgan Chase & Co. cut Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a research report on Wednesday, October 4th. Zacks Investment Research raised Varex Imaging from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, Jefferies Group increased their price target on Varex Imaging to $39.00 and gave the company a “buy” rating in a research report on Friday, November 10th.

Varex Imaging (NASDAQ:VREX) opened at $40.72 on Friday. The company has a current ratio of 3.26, a quick ratio of 1.72 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1,540.00 and a PE ratio of 29.94. Varex Imaging has a 52-week low of $25.00 and a 52-week high of $41.99.

In related news, insider Sunny Sanyal sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total transaction of $1,825,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. bought a new stake in Varex Imaging in the second quarter valued at approximately $112,000. Howard Hughes Medical Institute bought a new stake in Varex Imaging in the second quarter valued at approximately $134,000. Oppenheimer Asset Management Inc. bought a new stake in Varex Imaging in the second quarter valued at approximately $136,000. Pinebridge Investments L.P. bought a new stake in Varex Imaging in the second quarter valued at approximately $167,000. Finally, Tufton Capital Management bought a new stake in Varex Imaging in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

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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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