Varex Imaging (NASDAQ:VREX) Receives Average Rating of "Hold" from Analysts

Key Points

• Varex Imaging has a consensus “Hold” rating from seven analysts, with an average 12-month price target of $16.875. Several firms recently downgraded the stock from buy or outperform to hold or market perform.
• The stock opened at $18.46, near its 52-week high of $18.63, and has gained substantially from its 52-week low of $9.09. Its market capitalization is approximately $777 million.
• Varex reported quarterly earnings of $0.31 per share, exceeding analyst expectations of $0.21, while revenue of $210.5 million fell short of the $215.5 million consensus estimate.

Varex Imaging (NASDAQ:VREX - Get Free Report) has earned a consensus recommendation of "Hold" from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.8750.

Several equities research analysts have recently commented on the stock. Oppenheimer downgraded shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. B. Riley Financial lowered Varex Imaging from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. CJS Securities downgraded shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Monday, August 17th. Zacks Research cut shares of Varex Imaging from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Varex Imaging from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 26th.

Varex Imaging Trading Down 0.1%

NASDAQ:VREX opened at $18.46 on Friday. The stock has a market capitalization of $777.17 million, a price-to-earnings ratio of 35.50 and a beta of 0.96. Varex Imaging has a 52 week low of $9.09 and a 52 week high of $18.63. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $14.80 and a 200 day moving average of $12.34.

Varex Imaging (NASDAQ:VREX - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%.The firm had revenue of $210.50 million during the quarter, compared to analysts' expectations of $215.50 million. As a group, sell-side analysts anticipate that Varex Imaging will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Several institutional investors and hedge funds have recently modified their holdings of VREX. Rockefeller Capital Management L.P. purchased a new position in shares of Varex Imaging during the 4th quarter valued at approximately $27,000. Integrated Wealth Concepts LLC purchased a new position in Varex Imaging in the second quarter valued at $32,000. Legal & General Group Plc acquired a new position in shares of Varex Imaging in the second quarter worth about $43,000. Quarry LP acquired a new position in shares of Varex Imaging in the third quarter worth about $64,000. Finally, BNP Paribas Financial Markets grew its position in shares of Varex Imaging by 18.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,045 shares of the company's stock valued at $113,000 after acquiring an additional 2,036 shares during the period.

Varex Imaging Company Profile

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company's medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.

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