Varex Imaging’s (VREX) “Buy” Rating Reiterated at Northland Securities

Varex Imaging (NASDAQ:VREX)‘s stock had its “buy” rating reissued by equities researchers at Northland Securities in a research note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $42.00 price target on the stock. Northland Securities’ price target indicates a potential upside of 44.43% from the company’s current price.

A number of other brokerages have also issued reports on VREX. Sidoti initiated coverage on shares of Varex Imaging in a research report on Wednesday, January 16th. They set a “buy” rating and a $35.00 target price on the stock. Zacks Investment Research lowered shares of Varex Imaging from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Saturday, February 9th. Finally, TheStreet upgraded shares of Varex Imaging from a “d+” rating to a “c-” rating in a research report on Wednesday, January 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Varex Imaging currently has an average rating of “Buy” and an average target price of $34.60.

Shares of VREX stock traded down $0.38 during trading hours on Wednesday, hitting $29.08. The company’s stock had a trading volume of 29,588 shares, compared to its average volume of 381,678. The firm has a market capitalization of $1.12 billion, a PE ratio of 22.37, a P/E/G ratio of 2.21 and a beta of 1.58. Varex Imaging has a twelve month low of $21.57 and a twelve month high of $39.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.13.



Varex Imaging (NASDAQ:VREX) last announced its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. Varex Imaging had a net margin of 1.65% and a return on equity of 10.93%. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $194.76 million. During the same quarter last year, the business earned $0.45 earnings per share. Varex Imaging’s revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Varex Imaging will post 1.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Varex Imaging by 2.4% in the 4th quarter. BlackRock Inc. now owns 5,916,732 shares of the company’s stock valued at $140,107,000 after purchasing an additional 141,352 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Varex Imaging by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,812,851 shares of the company’s stock valued at $109,276,000 after purchasing an additional 86,869 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of Varex Imaging in the 4th quarter valued at $32,226,000. Commonwealth Bank of Australia boosted its holdings in shares of Varex Imaging by 9.8% in the 4th quarter. Commonwealth Bank of Australia now owns 1,339,138 shares of the company’s stock valued at $31,708,000 after purchasing an additional 119,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Varex Imaging by 13.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,180,063 shares of the company’s stock valued at $39,981,000 after purchasing an additional 137,878 shares during the last quarter. Institutional investors own 99.07% of the company’s stock.

Varex Imaging Company Profile

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 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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