$189.11 Million in Sales Expected for Varex Imaging Corp (VREX) This Quarter

Wall Street brokerages forecast that Varex Imaging Corp (NASDAQ:VREX) will announce $189.11 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Varex Imaging’s earnings, with the highest sales estimate coming in at $196.70 million and the lowest estimate coming in at $181.52 million. Varex Imaging reported sales of $154.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.2%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, 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 expect that the firm will post 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 research firms that follow Varex Imaging.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.17). Varex Imaging had a net margin of 7.24% and a return on equity of 16.90%. The firm had revenue of $176.20 million during the quarter, compared to analyst estimates of $194.00 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year.

Several analysts have issued reports on VREX shares. Jefferies Group upped their target price on Varex Imaging to $39.00 and gave the company a “buy” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Varex Imaging from a “strong sell” rating to a “buy” rating and set a $45.00 target price for the company in a report on Saturday, December 23rd. Finally, JPMorgan Chase & Co. upgraded Varex Imaging from an “underweight” rating to a “neutral” rating in a report on Wednesday, December 20th.

Varex Imaging (NASDAQ VREX) traded up $0.29 during midday trading on Thursday, reaching $35.76. The company had a trading volume of 347,717 shares, compared to its average volume of 396,437. The company has a current ratio of 3.25, a quick ratio of 1.60 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1,350.23 and a P/E ratio of 26.10. Varex Imaging has a 1 year low of $27.80 and a 1 year high of $43.76.

In other Varex Imaging news, insider Sunny Sanyal sold 50,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total value of $1,825,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Royce & Associates LP grew its holdings in Varex Imaging by 18.4% in the 4th quarter. Royce & Associates LP now owns 225,329 shares of the company’s stock valued at $9,051,000 after buying an additional 34,969 shares in the last quarter. BlackRock Inc. grew its holdings in Varex Imaging by 2.6% in the 4th quarter. BlackRock Inc. now owns 4,883,377 shares of the company’s stock valued at $196,164,000 after buying an additional 125,139 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Varex Imaging by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 459,890 shares of the company’s stock valued at $18,473,000 after buying an additional 23,057 shares in the last quarter. Rhumbline Advisers grew its holdings in Varex Imaging by 15.7% in the 4th quarter. Rhumbline Advisers now owns 88,070 shares of the company’s stock valued at $3,538,000 after buying an additional 11,951 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Varex Imaging by 223.5% in the 4th quarter. Arizona State Retirement System now owns 63,091 shares of the company’s stock valued at $2,534,000 after buying an additional 43,591 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

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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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