Varex Imaging Corp (NASDAQ:VREX) – Equities research analysts at Jefferies Financial Group increased their Q3 2020 earnings estimates for Varex Imaging in a research report issued to clients and investors on Tuesday, February 11th. Jefferies Financial Group analyst A. Petrone now anticipates that the company will earn $0.31 per share for the quarter, up from their previous forecast of $0.28. Jefferies Financial Group has a “Hold” rating and a $30.00 price target on the stock. Jefferies Financial Group also issued estimates for Varex Imaging’s Q4 2020 earnings at $0.45 EPS and FY2021 earnings at $1.47 EPS.
Other equities analysts have also issued reports about the company. ValuEngine raised Varex Imaging from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Oppenheimer started coverage on Varex Imaging in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $40.00 price target for the company. Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday. Finally, BidaskClub lowered Varex Imaging from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.25.
NASDAQ:VREX opened at $25.89 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.50 and a quick ratio of 1.09. The business has a fifty day simple moving average of $29.54 and a two-hundred day simple moving average of $29.17. Varex Imaging has a 1 year low of $23.10 and a 1 year high of $35.00. The company has a market capitalization of $999.69 million, a P/E ratio of 60.21, a P/E/G ratio of 4.07 and a beta of 1.86.
Varex Imaging (NASDAQ:VREX) last released its earnings results on Tuesday, February 11th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.07). Varex Imaging had a return on equity of 11.49% and a net margin of 2.13%. The firm had revenue of $200.10 million during the quarter, compared to analysts’ expectations of $190.81 million.
Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Varex Imaging in the fourth quarter worth $28,000. Meeder Asset Management Inc. bought a new stake in Varex Imaging during the third quarter valued at $45,000. Oppenheimer Asset Management Inc. boosted its stake in Varex Imaging by 13.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,704 shares of the company’s stock valued at $110,000 after buying an additional 432 shares during the period. Amalgamated Bank bought a new stake in Varex Imaging during the fourth quarter valued at $201,000. Finally, Victory Capital Management Inc. boosted its stake in Varex Imaging by 16.8% during the fourth quarter. Victory Capital Management Inc. now owns 6,930 shares of the company’s stock valued at $207,000 after buying an additional 999 shares during the period. 89.22% of the stock is owned by hedge funds and other institutional investors.
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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