VAREX IMAGING (NASDAQ:VREX) Stock Rating Upgraded by Wall Street Zen

VAREX IMAGING (NASDAQ:VREX - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday.

Separately, B. Riley upgraded VAREX IMAGING to a "strong-buy" rating in a research report on Monday, May 12th.

VAREX IMAGING Stock Performance

VREX stock traded up $0.07 during trading on Friday, reaching $8.43. The company had a trading volume of 163,171 shares, compared to its average volume of 559,766. The company has a market cap of $347.32 million, a price-to-earnings ratio of -8.18 and a beta of 0.70. VAREX IMAGING has a twelve month low of $6.76 and a twelve month high of $16.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.36 and a current ratio of 4.05. The firm has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $10.76.

VAREX IMAGING (NASDAQ:VREX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.12. The firm had revenue of $212.90 million for the quarter, compared to analyst estimates of $206.76 million. VAREX IMAGING had a negative net margin of 5.08% and a positive return on equity of 4.91%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, sell-side analysts expect that VAREX IMAGING will post 0.53 earnings per share for the current year.

Institutional Investors Weigh In On VAREX IMAGING

Several hedge funds have recently added to or reduced their stakes in VREX. Aquatic Capital Management LLC acquired a new position in shares of VAREX IMAGING in the 4th quarter valued at about $25,000. Quadrant Capital Group LLC lifted its holdings in VAREX IMAGING by 115.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company's stock valued at $41,000 after acquiring an additional 1,520 shares during the period. Point72 Hong Kong Ltd purchased a new stake in VAREX IMAGING in the 4th quarter worth approximately $48,000. Quarry LP acquired a new stake in shares of VAREX IMAGING during the 1st quarter worth approximately $63,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of VAREX IMAGING in the 4th quarter valued at $98,000.

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.