B. Riley Reiterates Buy Rating for Varex Imaging (NASDAQ:VREX)

Key Points

• Varex Imaging's stock price target has been raised by B. Riley from $12.00 to $16.00, suggesting a potential upside of 75.48% based on the company's previous closing price.
• Wall Street Zen upgraded Varex Imaging's rating from "buy" to "strong-buy".
• In its latest quarterly earnings report, Varex Imaging reported earnings per share of $0.18, significantly exceeding the consensus estimate of $0.04.

Varex Imaging (NASDAQ:VREX - Get Free Report)'s stock had its "buy" rating reaffirmed by B. Riley in a research note issued to investors on Friday, MarketBeat reports. They presently have a $16.00 price target on the stock, up from their previous price target of $12.00. B. Riley's price objective points to a potential upside of 46.49% from the stock's current price. B. Riley also issued estimates for Varex Imaging's Q4 2026 earnings at $0.27 EPS.

Separately, Wall Street Zen upgraded Varex Imaging from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th.

Varex Imaging Trading Up 11.8%

Varex Imaging stock traded up $1.15 during trading on Friday, reaching $10.92. 535,779 shares of the company were exchanged, compared to its average volume of 473,643. Varex Imaging has a 52-week low of $6.76 and a 52-week high of $16.93. The company has a market capitalization of $453.26 million, a P/E ratio of -3.38 and a beta of 0.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.51 and a quick ratio of 1.82. The stock's 50 day simple moving average is $8.08 and its two-hundred day simple moving average is $9.66.

Varex Imaging (NASDAQ:VREX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.14. Varex Imaging had a positive return on equity of 5.54% and a negative net margin of 16.13%. The firm had revenue of $203.00 million for the quarter, compared to the consensus estimate of $190.32 million. On average, equities research analysts expect that Varex Imaging will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Varex Imaging

A number of institutional investors have recently modified their holdings of VREX. Allspring Global Investments Holdings LLC grew its stake in shares of Varex Imaging by 21.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,779,412 shares of the company's stock valued at $31,769,000 after buying an additional 481,537 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of Varex Imaging by 11.6% in the second quarter. Pzena Investment Management LLC now owns 4,244,977 shares of the company's stock valued at $36,804,000 after buying an additional 442,628 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Varex Imaging by 510.7% in the fourth quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company's stock valued at $6,881,000 after buying an additional 394,381 shares in the last quarter. Cooke & Bieler LP grew its stake in shares of Varex Imaging by 18.7% in the first quarter. Cooke & Bieler LP now owns 2,122,683 shares of the company's stock valued at $24,623,000 after buying an additional 333,794 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in Varex Imaging by 1,617.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 343,597 shares of the company's stock worth $2,979,000 after purchasing an additional 323,587 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.