Varex Imaging (NASDAQ:VREX) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a report published on Monday morning.

Separately, TheStreet cut shares of Varex Imaging from a b- rating to a c rating in a research note on Tuesday, February 6th.

Varex Imaging Price Performance

NASDAQ VREX opened at $15.63 on Monday. The company has a 50-day moving average price of $17.29 and a 200-day moving average price of $18.48. Varex Imaging has a 52 week low of $14.56 and a 52 week high of $23.90. The company has a quick ratio of 2.37, a current ratio of 4.23 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $639.27 million, a P/E ratio of 17.56, a PEG ratio of 2.25 and a beta of 0.72.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The business had revenue of $206.20 million for the quarter, compared to the consensus estimate of $205.15 million. Varex Imaging had a net margin of 4.90% and a return on equity of 8.26%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Equities research analysts anticipate that Varex Imaging will post 0.99 earnings per share for the current year.

Institutional Trading of Varex Imaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Varex Imaging during the fourth quarter valued at approximately $30,000. Federated Hermes Inc. lifted its position in shares of Varex Imaging by 216.3% in the third quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after buying an additional 1,218 shares in the last quarter. GAMMA Investing LLC bought a new position in Varex Imaging during the fourth quarter valued at approximately $53,000. Jump Financial LLC purchased a new position in shares of Varex Imaging in the fourth quarter valued at $214,000. Finally, Mackenzie Financial Corp purchased a new stake in Varex Imaging during the third quarter valued at $230,000.

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.