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

Key Points

• Analyst consensus is “Hold”: All seven covering analysts rated Varex Imaging neutral, with an average 12-month price target of $16.88 versus the stock’s $18.48 opening price.
• Latest results exceeded profit expectations: Varex reported quarterly EPS of $0.31, beating the $0.21 consensus, though revenue of $210.5 million fell short of the $215.5 million estimate.
• Insiders recently sold shares: The CFO and a director sold stock worth roughly $2.4 million and $150,000, respectively; the CFO’s transaction was described as covering tax obligations tied to vested equity awards.

Shares of Varex Imaging (NASDAQ:VREX - Get Free Report) have earned a consensus recommendation of "Hold" from the seven brokerages that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $16.88.

A number of equities analysts have commented on the stock. Sidoti restated a "neutral" rating and set a $19.00 price objective on shares of Varex Imaging 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. Wall Street Zen raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. B. Riley Financial lowered shares of Varex Imaging from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Oppenheimer lowered Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Monday, August 10th.

Varex Imaging Stock Up 0.2%

VREX opened at $18.48 on Wednesday. Varex Imaging has a 52 week low of $9.09 and a 52 week high of $18.63. The business has a 50 day moving average price of $17.42 and a two-hundred day moving average price of $13.09. 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 company has a market cap of $778.01 million, a PE ratio of 35.54 and a beta of 0.97.

Varex Imaging (NASDAQ:VREX - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $210.50 million for the quarter, compared to analyst estimates of $215.50 million. As a group, research analysts anticipate that Varex Imaging will post 1.04 EPS for the current year.

Insider Buying and Selling

In other news, CFO Shubham Maheshwari sold 130,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $18.46, for a total value of $2,399,800.00. Following the completion of the sale, the chief financial officer directly owned 139,972 shares of the company's stock, valued at $2,583,883.12. This trade represents a 48.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jay Kunkel sold 8,121 shares of Varex Imaging stock in a transaction that occurred 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 in the company, valued at approximately $283,279.92. This trade represents a 34.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.60% of the company's stock.

Hedge Funds Weigh In On Varex Imaging

A number of large investors have recently made changes to their positions in VREX. Rockefeller Capital Management L.P. acquired a new stake in shares of Varex Imaging during the 4th quarter valued at approximately $27,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Varex Imaging in the 2nd quarter worth approximately $32,000. Legal & General Group Plc acquired a new stake in shares of Varex Imaging in the 2nd quarter worth approximately $43,000. AXQ Capital LP purchased a new position in Varex Imaging in the 2nd quarter valued at approximately $116,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Varex Imaging in the 2nd quarter valued at approximately $126,000.

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.

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