Analysts predict that Varex Imaging Corp (NASDAQ:VREX) will post sales of $189.11 million for the current quarter, Zacks reports. Two analysts have made estimates for Varex Imaging’s earnings. The highest sales estimate is $196.70 million and the lowest is $181.52 million. Varex Imaging posted sales of $154.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Varex Imaging will report full year sales of $189.11 million for the current year, with estimates ranging from $789.14 million to $789.90 million. For the next year, analysts forecast that the firm will report sales of $805.72 million per share, with estimates ranging from $799.40 million to $812.04 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Varex Imaging.
Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The company had revenue of $176.20 million during the quarter, compared to analysts’ expectations of $194.00 million. Varex Imaging had a net margin of 7.24% and a return on equity of 16.90%. Varex Imaging’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share.
In other news, insider Sunny Sanyal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $36.50, for a total value of $1,825,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $156,842,000. Vanguard Group Inc. purchased a new stake in Varex Imaging during the 2nd quarter worth approximately $116,560,000. QV Investors Inc. increased its stake in Varex Imaging by 18.3% during the 3rd quarter. QV Investors Inc. now owns 2,094,088 shares of the company’s stock worth $70,863,000 after buying an additional 323,703 shares during the period. First Eagle Investment Management LLC increased its stake in Varex Imaging by 1.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,782,645 shares of the company’s stock worth $60,325,000 after buying an additional 23,700 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt purchased a new stake in Varex Imaging during the 3rd quarter worth approximately $50,596,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Varex Imaging (VREX) opened at $35.05 on Thursday. The stock has a market cap of $1,320.00 and a P/E ratio of 25.77. Varex Imaging has a 52 week low of $27.80 and a 52 week high of $43.76. The company has a quick ratio of 1.60, a current ratio of 3.25 and a debt-to-equity ratio of 1.09.
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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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