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Varex Imaging (NASDAQ:VREX) Raised to Hold at BidaskClub

Last updated on Tuesday, September 22, 2020 | 2020 MarketBeat

Varex Imaging (NASDAQ:VREX) was upgraded by BidaskClub from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

Other equities research analysts have also recently issued reports about the stock. TheStreet cut shares of Varex Imaging from a "c-" rating to a "d" rating in a research report on Wednesday, August 12th. Zacks Investment Research cut shares of Varex Imaging from a "buy" rating to a "hold" rating in a report on Tuesday, July 28th. Oppenheimer cut shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a report on Thursday, August 13th. Finally, ValuEngine raised shares of Varex Imaging from a "hold" rating to a "buy" rating in a report on Tuesday, September 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of "Hold" and an average target price of $30.60.

NASDAQ:VREX traded up $0.12 on Tuesday, hitting $11.92. 3,468 shares of the company's stock were exchanged, compared to its average volume of 461,195. The firm has a 50-day moving average price of $12.75 and a 200-day moving average price of $17.65. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.60 and a quick ratio of 1.12. Varex Imaging has a 52 week low of $10.36 and a 52 week high of $33.00. The company has a market cap of $461.18 million, a P/E ratio of -20.93, a price-to-earnings-growth ratio of 47.56 and a beta of 0.98.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.19). Varex Imaging had a positive return on equity of 4.93% and a negative net margin of 2.89%. The business had revenue of $171.20 million for the quarter, compared to the consensus estimate of $172.52 million. On average, research analysts expect that Varex Imaging will post 0.05 earnings per share for the current fiscal year.

In other Varex Imaging news, CAO Kevin Bruce Yankton sold 1,629 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $16.34, for a total value of $26,617.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in VREX. UBS Group AG grew its position in shares of Varex Imaging by 73.8% during the 1st quarter. UBS Group AG now owns 51,198 shares of the company's stock worth $1,163,000 after purchasing an additional 21,743 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Varex Imaging by 48.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,305 shares of the company's stock worth $438,000 after purchasing an additional 6,296 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Varex Imaging by 58.5% during the 2nd quarter. SG Americas Securities LLC now owns 24,532 shares of the company's stock worth $372,000 after purchasing an additional 9,058 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Varex Imaging during the 2nd quarter worth approximately $2,471,000. Finally, Comerica Bank grew its position in shares of Varex Imaging by 8.4% during the 2nd quarter. Comerica Bank now owns 42,088 shares of the company's stock worth $681,000 after purchasing an additional 3,252 shares in the last quarter. 99.87% of the stock is currently owned by hedge funds and other institutional investors.

Varex Imaging Company Profile

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

Further Reading: How Do You Calculate Return on Equity (ROE)?

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