Varex Imaging (NASDAQ:VREX) Rating Increased to Strong-Buy at 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 report released on Saturday.

Separately, B. Riley raised shares of Varex Imaging to a "strong-buy" rating in a research note on Monday, May 12th.

Varex Imaging Stock Up 1.0%

Shares of NASDAQ VREX opened at $8.81 on Friday. The firm has a market capitalization of $362.77 million, a PE ratio of -8.55 and a beta of 0.70. The company has a current ratio of 4.05, a quick ratio of 2.36 and a debt-to-equity ratio of 1.00. Varex Imaging has a 1 year low of $6.76 and a 1 year high of $16.93. The firm's 50-day moving average is $8.12 and its 200-day moving average is $10.85.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The company 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 company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. Equities analysts expect that Varex Imaging will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VREX. Aquatic Capital Management LLC bought a new position in Varex Imaging in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC lifted its stake 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 buying an additional 1,520 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Varex Imaging in the fourth quarter valued at approximately $48,000. Quarry LP bought a new position in Varex Imaging in the first quarter valued at approximately $63,000. Finally, KLP Kapitalforvaltning AS bought a new position in Varex Imaging in the fourth quarter valued at approximately $98,000.

About Varex Imaging

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.

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