Varex Imaging (NASDAQ:VREX) Issues Earnings Results

Varex Imaging (NASDAQ:VREX – Get Rating) released its quarterly earnings results on Tuesday. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.14, MarketWatch Earnings reports. The firm had revenue of $214.70 million for the quarter, compared to analyst estimates of $201.83 million. Varex Imaging had a net margin of 3.00% and a return on equity of 12.09%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Varex Imaging updated its Q3 guidance to $0.10-$0.30 EPS.

Shares of VREX traded up $1.16 on Wednesday, reaching $21.33. 2,231 shares of the company’s stock were exchanged, compared to its average volume of 248,180. The company has a current ratio of 3.72, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $844.67 million, a P/E ratio of 34.15 and a beta of 0.91. The business has a 50 day moving average price of $22.14 and a two-hundred day moving average price of $25.89. Varex Imaging has a 12 month low of $18.90 and a 12 month high of $32.65.

Separately, StockNews.com lowered shares of Varex Imaging from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 25th.

Several institutional investors and hedge funds have recently bought and sold shares of VREX. Royal Bank of Canada raised its stake in shares of Varex Imaging by 26.2% during the second quarter. Royal Bank of Canada now owns 6,514 shares of the company’s stock worth $175,000 after buying an additional 1,352 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Varex Imaging by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 376,628 shares of the company’s stock valued at $10,621,000 after purchasing an additional 6,163 shares in the last quarter. Geode Capital Management LLC increased its stake in Varex Imaging by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 701,784 shares of the company’s stock valued at $22,141,000 after purchasing an additional 27,855 shares in the last quarter. Marshall Wace LLP bought a new stake in Varex Imaging in the fourth quarter valued at approximately $6,744,000. Finally, Legal & General Group Plc increased its stake in Varex Imaging by 9.6% in the fourth quarter. Legal & General Group Plc now owns 115,671 shares of the company’s stock valued at $3,650,000 after purchasing an additional 10,148 shares in the last quarter.

Varex Imaging Company Profile (Get Rating)

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, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys.

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