Varex Imaging (NASDAQ:VREX) Raised to Buy at StockNews.com

Varex Imaging (NASDAQ:VREX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, B. Riley assumed coverage on shares of Varex Imaging in a report on Friday, August 23rd. They set a “buy” rating and a $21.00 price objective for the company.

Varex Imaging Stock Up 0.1 %

NASDAQ:VREX traded up $0.02 during trading hours on Wednesday, reaching $16.53. The company had a trading volume of 323,067 shares, compared to its average volume of 504,999. The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72. The firm has a market cap of $679.38 million, a price-to-earnings ratio of -14.13 and a beta of 0.53. The business’s 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $13.50. Varex Imaging has a twelve month low of $10.19 and a twelve month high of $21.50.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Varex Imaging by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,612,324 shares of the company’s stock worth $83,483,000 after buying an additional 29,511 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Varex Imaging in the 1st quarter worth approximately $207,000. Hancock Whitney Corp purchased a new position in Varex Imaging in the 1st quarter worth approximately $296,000. Comerica Bank grew its stake in Varex Imaging by 98.1% in the 1st quarter. Comerica Bank now owns 37,586 shares of the company’s stock worth $680,000 after buying an additional 18,615 shares in the last quarter. Finally, First Hawaiian Bank grew its stake in Varex Imaging by 32.9% in the 2nd quarter. First Hawaiian Bank now owns 31,049 shares of the company’s stock worth $457,000 after buying an additional 7,686 shares in the last quarter.

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.