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.
TRADEMARK VIOLATION NOTICE: This story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://ledgergazette.com/2018/02/11/189-11-million-in-sales-expected-for-varex-imaging-corp-vrex-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Varex Imaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varex Imaging and related companies with MarketBeat.com's FREE daily email newsletter.