VAREX IMAGING (NASDAQ:VREX) Price Target Raised to $16.00

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) had its target price raised by analysts at B. Riley from $12.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley's target price would indicate a potential upside of 68.78% 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 raised VAREX IMAGING from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th.

VAREX IMAGING Price Performance

NASDAQ VREX traded up $1.67 during mid-day trading on Friday, hitting $9.48. The stock had a trading volume of 1,980,435 shares, compared to its average volume of 360,011. VAREX IMAGING has a 52-week low of $6.76 and a 52-week high of $16.93. The company has a market cap of $390.58 million, a price-to-earnings ratio of -2.95 and a beta of 0.68. The company has a 50 day simple moving average of $8.04 and a 200 day simple moving average of $9.73. The company has a quick ratio of 2.36, a current ratio of 4.05 and a debt-to-equity ratio of 1.00.

VAREX IMAGING (NASDAQ:VREX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.14. VAREX IMAGING had a positive return on equity of 5.33% and a negative net margin of 16.13%. The firm had revenue of $203.00 million during the quarter, compared to the consensus estimate of $190.32 million. Equities analysts forecast that VAREX IMAGING will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On VAREX IMAGING

Several hedge funds have recently bought and sold shares of VREX. Allspring Global Investments Holdings LLC increased its position in VAREX IMAGING by 21.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,779,412 shares of the company's stock worth $31,769,000 after buying an additional 481,537 shares in the last quarter. Pzena Investment Management LLC increased its position in VAREX IMAGING by 11.6% during the second quarter. Pzena Investment Management LLC now owns 4,244,977 shares of the company's stock worth $36,804,000 after buying an additional 442,628 shares in the last quarter. Russell Investments Group Ltd. increased its position in VAREX IMAGING by 510.7% during the fourth quarter. Russell Investments Group Ltd. now owns 471,612 shares of the company's stock worth $6,881,000 after buying an additional 394,381 shares in the last quarter. Cooke & Bieler LP boosted its holdings in shares of VAREX IMAGING by 18.7% during the first quarter. Cooke & Bieler LP now owns 2,122,683 shares of the company's stock worth $24,623,000 after purchasing an additional 333,794 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of VAREX IMAGING by 1,617.1% during the second 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 during 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.