Varex Imaging (NASDAQ:VREX) Stock Has Consensus Price Target of $16.88

Varex Imaging (NASDAQ:VREX) has earned an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $16.88.

Several research firms recently commented on VREX. CJS Securities downgraded Varex Imaging from an “outperform” rating to a “market perform” rating in a research note on Monday, August 17th. Zacks Research lowered shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen raised shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Weiss Ratings raised shares of Varex Imaging from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Finally, Oppenheimer downgraded shares of Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th.

Varex Imaging Trading Down 0.1%

Shares of Varex Imaging stock opened at $18.46 on Wednesday. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. Varex Imaging has a twelve month low of $9.09 and a twelve month high of $18.63. The firm has a market capitalization of $777.17 million, a PE ratio of 35.50 and a beta of 0.97. The firm’s 50-day moving average price is $17.86 and its 200 day moving average price is $13.23.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. The company had revenue of $210.50 million during the quarter, compared to analyst estimates of $215.50 million. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. On average, sell-side analysts predict that Varex Imaging will post 1.04 EPS for the current fiscal year.

Insider Activity at Varex Imaging

In other Varex Imaging news, CFO Shubham Maheshwari sold 130,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $18.46, for a total transaction of $2,399,800.00. Following the transaction, the chief financial officer owned 139,972 shares of the company’s stock, valued at approximately $2,583,883.12. The trade was a 48.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jay K. Kunkel sold 8,121 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $18.48, for a total value of $150,076.08. Following the completion of the sale, the director owned 15,329 shares of the company’s stock, valued at approximately $283,279.92. The trade was a 34.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Varex Imaging in the fourth quarter valued at about $27,000. GAMMA Investing LLC raised its stake in Varex Imaging by 65.4% during the third quarter. GAMMA Investing LLC now owns 1,657 shares of the company’s stock worth $31,000 after purchasing an additional 655 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Varex Imaging during the second quarter worth about $32,000. Legal & General Group Plc purchased a new position in Varex Imaging during the second quarter worth about $43,000. Finally, Farther Finance Advisors LLC lifted its holdings in Varex Imaging by 177.0% in the third quarter. Farther Finance Advisors LLC now owns 3,559 shares of the company’s stock valued at $66,000 after acquiring an additional 2,274 shares during the last quarter.

About Varex Imaging

Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures medical imaging components and X-ray products used by original equipment manufacturers, healthcare providers and other customers. Its portfolio includes X-ray tubes, digital detectors, image-processing software and other components that support diagnostic imaging, radiotherapy and industrial inspection systems.

The company’s products are used in a range of applications, including computed tomography, radiography, fluoroscopy, mammography, dental imaging, oncology and image-guided procedures.