Varex Imaging (NASDAQ:VREX) Downgraded by Wall Street Zen to "Buy"

Varex Imaging (NASDAQ:VREX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Thursday.

A number of other brokerages have also commented on VREX. B. Riley raised Varex Imaging to a "strong-buy" rating in a research note on Monday, May 12th. Oppenheimer lowered their price objective on Varex Imaging from $30.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, February 7th.

Varex Imaging Trading Up 1.3%

VREX stock traded up $0.10 on Thursday, reaching $7.74. The company's stock had a trading volume of 63,001 shares, compared to its average volume of 575,316. The business has a fifty day simple moving average of $9.08 and a two-hundred day simple moving average of $12.42. Varex Imaging has a 12-month low of $6.76 and a 12-month high of $16.93. The firm has a market cap of $318.89 million, a PE ratio of -6.60 and a beta of 0.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.50 and a current ratio of 4.36.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.12. Varex Imaging had a positive return on equity of 4.00% and a negative net margin of 5.79%. The company had revenue of $212.90 million during the quarter, compared to analyst estimates of $206.76 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Varex Imaging will post 0.53 EPS for the current year.

Insider Buying and Selling at Varex Imaging

In other news, SVP Kimberley E. Honeysett sold 4,007 shares of Varex Imaging stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.81, for a total value of $51,329.67. Following the completion of the transaction, the senior vice president now owns 4,002 shares of the company's stock, valued at $51,265.62. The trade was a 50.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sunny Sanyal sold 8,749 shares of Varex Imaging stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $11.24, for a total value of $98,338.76. Following the completion of the transaction, the chief executive officer now directly owns 190,193 shares of the company's stock, valued at approximately $2,137,769.32. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Varex Imaging

Several large investors have recently modified their holdings of VREX. Empowered Funds LLC raised its position in shares of Varex Imaging by 5.1% in the 4th quarter. Empowered Funds LLC now owns 166,977 shares of the company's stock worth $2,436,000 after purchasing an additional 8,104 shares during the last quarter. Savant Capital LLC purchased a new position in shares of Varex Imaging in the 4th quarter worth about $237,000. Principal Financial Group Inc. raised its position in shares of Varex Imaging by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 41,144 shares of the company's stock worth $600,000 after purchasing an additional 3,914 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Varex Imaging by 240.7% in the 4th quarter. Rice Hall James & Associates LLC now owns 328,692 shares of the company's stock worth $4,796,000 after buying an additional 232,229 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Varex Imaging by 60.7% in the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company's stock worth $139,000 after buying an additional 3,600 shares in the last quarter.

Varex Imaging Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.