Equities analysts predict that Varex Imaging Corp (NASDAQ:VREX) will announce sales of $192.59 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Varex Imaging’s earnings. The lowest sales estimate is $191.57 million and the highest is $193.60 million. Varex Imaging posted sales of $215.70 million during the same quarter last year, which would indicate a negative year over year growth rate of 10.7%. The business is scheduled to issue its next earnings report on Thursday, November 8th.
On average, analysts expect that Varex Imaging will report full-year sales of $761.19 million for the current year, with estimates ranging from $760.17 million to $762.20 million. For the next year, analysts forecast that the company will post sales of $783.54 million, with estimates ranging from $782.17 million to $784.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Varex Imaging.
Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.17). Varex Imaging had a net margin of 5.39% and a return on equity of 15.16%. The business had revenue of $191.20 million during the quarter, compared to analyst estimates of $196.88 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis.
In other Varex Imaging news, CFO Clarence R. Verhoef purchased 3,300 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average cost of $29.58 per share, for a total transaction of $97,614.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter M. Rosebrough, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average price of $28.39 per share, for a total transaction of $283,900.00. The disclosure for this purchase can be found here. Insiders purchased 20,300 shares of company stock worth $578,774 over the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in Varex Imaging by 9.5% during the third quarter. First Trust Advisors LP now owns 59,106 shares of the company’s stock worth $1,694,000 after purchasing an additional 5,125 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Varex Imaging during the third quarter worth about $711,000. Diamant Asset Management Inc. bought a new stake in Varex Imaging during the third quarter worth about $115,000. Kirr Marbach & Co. LLC IN lifted its position in Varex Imaging by 929.2% during the third quarter. Kirr Marbach & Co. LLC IN now owns 122,476 shares of the company’s stock worth $3,510,000 after purchasing an additional 110,576 shares during the period. Finally, Foundry Partners LLC lifted its position in Varex Imaging by 33.4% during the third quarter. Foundry Partners LLC now owns 16,110 shares of the company’s stock worth $462,000 after purchasing an additional 4,030 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.
VREX stock opened at $24.66 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.42 and a current ratio of 3.16. Varex Imaging has a 52 week low of $24.06 and a 52 week high of $43.76. The stock has a market capitalization of $955.62 million, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.87.
About Varex Imaging
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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