Varex Imaging (NASDAQ:VREX) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

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

Varex Imaging Trading Down 0.6 %

Shares of VREX opened at $15.75 on Monday. The firm has a market cap of $644.18 million, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.25 and a beta of 0.72. Varex Imaging has a fifty-two week low of $14.56 and a fifty-two week high of $23.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.37 and a current ratio of 4.23. The business has a 50-day moving average of $17.23 and a 200 day moving average of $18.45.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The business had revenue of $206.20 million during the quarter, compared to the consensus estimate of $205.15 million. Varex Imaging had a net margin of 4.90% and a return on equity of 8.26%. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. As a group, research analysts forecast that Varex Imaging will post 0.99 EPS for the current year.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Varex Imaging during the 3rd quarter valued at $498,000. Mackenzie Financial Corp bought a new position in Varex Imaging in the 3rd quarter worth about $230,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Varex Imaging by 3.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,018,300 shares of the company’s stock valued at $56,714,000 after acquiring an additional 88,406 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Varex Imaging by 0.5% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 170,232 shares of the company’s stock valued at $3,199,000 after acquiring an additional 788 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Varex Imaging during the third quarter worth about $270,000.

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.