Varex Imaging (NASDAQ:VREX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Varex Imaging (NASDAQ:VREX – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the stock.

Varex Imaging Trading Down 1.0 %

Shares of NASDAQ:VREX opened at $18.13 on Thursday. The stock has a 50 day moving average of $19.21 and a 200 day moving average of $20.41. The company has a market cap of $727.01 million, a PE ratio of 23.24, a price-to-earnings-growth ratio of 0.72 and a beta of 0.77. The company has a current ratio of 3.86, a quick ratio of 1.82 and a debt-to-equity ratio of 0.84. Varex Imaging has a 12-month low of $17.34 and a 12-month high of $23.78.

Varex Imaging (NASDAQ:VREX – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Varex Imaging had a net margin of 3.69% and a return on equity of 7.47%. The company had revenue of $205.60 million for the quarter, compared to the consensus estimate of $205.35 million. As a group, equities research analysts expect that Varex Imaging will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ancora Advisors LLC boosted its stake in Varex Imaging by 100.8% in the 1st quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock worth $26,000 after purchasing an additional 635 shares during the period. Advisor Group Holdings Inc. boosted its stake in Varex Imaging by 59.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock worth $62,000 after purchasing an additional 730 shares during the period. Point72 Hong Kong Ltd bought a new position in Varex Imaging in the 1st quarter worth approximately $46,000. Shell Asset Management Co. purchased a new stake in shares of Varex Imaging during the 3rd quarter worth approximately $111,000. Finally, Royal Bank of Canada raised its holdings in shares of Varex Imaging by 7.6% during the 3rd quarter. Royal Bank of Canada now owns 6,423 shares of the company’s stock worth $136,000 after acquiring an additional 456 shares in the last quarter.

About Varex Imaging

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Varex Imaging Corp. engages in the design, manufacture, and sale of imaging components. It operates through the Medical and Industrial segments. The Medical segment delivers and services x-ray imaging components, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, and three-dimensional reconstruction software.