Varex Imaging Co. Forecasted to Post Q3 2023 Earnings of $0.21 Per Share (NASDAQ:VREX)

Varex Imaging Co. (NASDAQ:VREXGet Rating) – Investment analysts at Oppenheimer lowered their Q3 2023 earnings per share estimates for shares of Varex Imaging in a research report issued on Wednesday, November 16th. Oppenheimer analyst S. Kalia now expects that the company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.32. The consensus estimate for Varex Imaging’s current full-year earnings is $1.00 per share. Oppenheimer also issued estimates for Varex Imaging’s Q4 2023 earnings at $0.24 EPS, Q1 2024 earnings at $0.20 EPS, Q2 2024 earnings at $0.23 EPS, Q3 2024 earnings at $0.28 EPS, Q4 2024 earnings at $0.31 EPS and FY2024 earnings at $1.02 EPS.

Several other analysts also recently weighed in on VREX. Jefferies Financial Group began coverage on Varex Imaging in a research note on Wednesday, October 12th. They set a “hold” rating and a $24.00 target price on the stock. StockNews.com began coverage on Varex Imaging in a research note on Wednesday, October 12th. They set a “buy” rating on the stock.

Varex Imaging Trading Down 4.0 %

Shares of NASDAQ VREX opened at $21.98 on Thursday. The stock’s 50 day simple moving average is $21.52 and its 200 day simple moving average is $21.63. The company has a current ratio of 3.44, a quick ratio of 1.70 and a debt-to-equity ratio of 0.78. The company has a market cap of $874.80 million, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 4.41 and a beta of 0.81. Varex Imaging has a 12-month low of $18.90 and a 12-month high of $32.65.

Insider Buying and Selling at Varex Imaging

In other news, Director Ruediger Naumann-Etienne sold 5,000 shares of Varex Imaging stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $21.60, for a total transaction of $108,000.00. Following the transaction, the director now directly owns 21,375 shares in the company, valued at approximately $461,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Varex Imaging during the 3rd quarter valued at $276,000. Neuberger Berman Group LLC grew its holdings in shares of Varex Imaging by 5.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 958,426 shares of the company’s stock worth $20,274,000 after acquiring an additional 50,165 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Varex Imaging by 5.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 41,245 shares of the company’s stock worth $872,000 after acquiring an additional 2,144 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Varex Imaging in the 3rd quarter worth $493,000. Finally, Vanguard Group Inc. grew its holdings in shares of Varex Imaging by 1.8% during the third quarter. Vanguard Group Inc. now owns 4,452,336 shares of the company’s stock valued at $94,122,000 after buying an additional 76,727 shares in the last quarter.

Varex Imaging Company Profile

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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.

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Earnings History and Estimates for Varex Imaging (NASDAQ:VREX)

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