Varex Imaging (NASDAQ:VREX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
Several other research firms have also recently commented on VREX. Jefferies Group LLC boosted their price target on shares of Varex Imaging to $39.00 and gave the stock a “buy” rating in a report on Friday, November 10th. J P Morgan Chase & Co cut shares of Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price target for the company. in a report on Wednesday, October 4th.
Varex Imaging (NASDAQ VREX) traded up $0.40 during midday trading on Tuesday, reaching $35.34. 387,500 shares of the company’s stock traded hands, compared to its average volume of 436,547. 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 has a 12 month low of $25.00 and a 12 month high of $36.58.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.59 EPS 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 company’s revenue was up 25.5% on a year-over-year basis. research analysts expect that Varex Imaging will post 1.82 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of VREX. Security National Trust Co. acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $108,000. Ameritas Investment Partners Inc. acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $112,000. Howard Hughes Medical Institute acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $134,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $136,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Varex Imaging in the 2nd quarter valued at $147,000. Institutional investors and hedge funds own 92.94% of the company’s stock.
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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