Varex Imaging (NASDAQ:VREX) Hits New 52-Week Low at $16.66

Shares of Varex Imaging Co. (NASDAQ:VREX) hit a new 52-week low during trading on Wednesday . The stock traded as low as $16.66 and last traded at $16.66, with a volume of 116742 shares changing hands. The stock had previously closed at $17.18.

Analysts Set New Price Targets

Separately, TheStreet cut Varex Imaging from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th.

Varex Imaging Stock Performance

The stock has a 50-day moving average price of $17.43 and a 200 day moving average price of $18.65. The company has a quick ratio of 2.37, a current ratio of 4.30 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $686.95 million, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.44 and a beta of 0.69.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). Varex Imaging had a return on equity of 9.21% and a net margin of 5.08%. The firm had revenue of $190.00 million for the quarter, compared to analyst estimates of $187.97 million. During the same quarter last year, the firm earned $0.08 EPS. The company’s revenue was down 7.6% on a year-over-year basis. On average, analysts forecast that Varex Imaging Co. will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC grew its position in shares of Varex Imaging by 100.8% in the 1st quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock valued at $26,000 after buying an additional 635 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $30,000. Federated Hermes Inc. lifted its holdings in shares of Varex Imaging by 216.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock valued at $33,000 after purchasing an additional 1,218 shares during the last quarter. Quarry LP boosted its position in shares of Varex Imaging by 70.1% in the 1st quarter. Quarry LP now owns 2,305 shares of the company’s stock valued at $42,000 after purchasing an additional 950 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Varex Imaging in the 1st quarter valued at about $46,000.

About Varex Imaging

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.