Varex Imaging Corp (NASDAQ:VREX) shares were down 1.2% during mid-day trading on Thursday . The company traded as low as $25.18 and last traded at $25.55. Approximately 12,130 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 275,184 shares. The stock had previously closed at $25.25.
A number of research analysts recently issued reports on VREX shares. Zacks Investment Research upgraded Varex Imaging from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. ValuEngine upgraded Varex Imaging from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Finally, Jefferies Financial Group decreased their target price on Varex Imaging to $33.00 and set a “buy” rating for the company in a report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $37.00.
The firm has a market cap of $1.09 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.88. The company has a quick ratio of 1.42, a current ratio of 3.16 and a debt-to-equity ratio of 0.89.
Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, August 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.17). The company had revenue of $191.20 million during the quarter, compared to analysts’ expectations of $196.88 million. Varex Imaging had a net margin of 5.39% and a return on equity of 15.16%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. As a group, analysts expect that Varex Imaging Corp will post 1.33 EPS for the current fiscal year.
In other Varex Imaging news, CEO Sunny Sanyal purchased 7,000 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was bought at an average cost of $28.18 per share, with a total value of $197,260.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Clarence R. Verhoef purchased 3,300 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were acquired at an average cost of $29.58 per share, with a total value of $97,614.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 20,300 shares of company stock valued at $578,774. 1.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in Varex Imaging by 5.5% during the 2nd quarter. Northern Trust Corp now owns 537,816 shares of the company’s stock worth $19,947,000 after buying an additional 28,180 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in Varex Imaging by 1,106.1% during the 2nd quarter. WINTON GROUP Ltd now owns 494,541 shares of the company’s stock worth $18,343,000 after buying an additional 453,536 shares during the last quarter. Putnam Investments LLC purchased a new stake in Varex Imaging during the 2nd quarter worth about $1,024,000. Bank of America Corp DE lifted its holdings in Varex Imaging by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 979,130 shares of the company’s stock worth $36,315,000 after buying an additional 97,742 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Varex Imaging by 1.0% during the 2nd quarter. Renaissance Technologies LLC now owns 271,900 shares of the company’s stock worth $10,085,000 after buying an additional 2,700 shares during the last quarter. 93.60% of the stock is owned by institutional investors.
Varex Imaging Company Profile (NASDAQ:VREX)
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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