Varex Imaging (NASDAQ:VREX) Stock Rating Lowered by CJS Securities

Key Points

• CJS Securities downgraded Varex Imaging from “outperform” to “market perform,” adding to a broadly cautious analyst view. The stock carries an average “Reduce” rating and a $16.88 consensus price target.
• Varex reported quarterly EPS of $0.31, exceeding the $0.21 analyst estimate, though revenue of $210.5 million fell short of the $215.5 million consensus.
• Shares opened at $18.49, near their 12-month high of $18.63, while the company reported a $778.4 million market capitalization and expects full-year EPS of $0.93.

Varex Imaging (NASDAQ:VREX - Get Free Report) was downgraded by investment analysts at CJS Securities from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Monday, Marketbeat reports.

Other research analysts have also recently issued reports about the stock. Sidoti reiterated a "neutral" rating and set a $19.00 target price on shares of Varex Imaging in a report on Monday, August 10th. Zacks Research lowered shares of Varex Imaging from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. B. Riley Financial cut shares of Varex Imaging from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Oppenheimer downgraded shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Varex Imaging from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $16.88.

Varex Imaging Stock Performance

Shares of NASDAQ VREX opened at $18.49 on Monday. Varex Imaging has a twelve month low of $9.09 and a twelve month high of $18.63. The firm has a market cap of $778.43 million, a PE ratio of 35.56 and a beta of 0.89. The business has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $11.67. The company has a quick ratio of 1.53, a current ratio of 3.38 and a debt-to-equity ratio of 0.64.

Varex Imaging (NASDAQ:VREX - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The business had revenue of $210.50 million for the quarter, compared to the consensus estimate of $215.50 million. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%. Analysts expect that Varex Imaging will post 0.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Varex Imaging during the fourth quarter valued at about $27,000. Legal & General Group Plc purchased a new position in shares of Varex Imaging in the 2nd quarter worth approximately $43,000. Quarry LP purchased a new position in shares of Varex Imaging in the 3rd quarter worth approximately $64,000. Aquatic Capital Management LLC bought a new position in shares of Varex Imaging during the 3rd quarter worth approximately $117,000. Finally, M&T Bank Corp bought a new position in shares of Varex Imaging during the 4th quarter worth approximately $128,000.

Varex Imaging Company Profile

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company's medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.

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