Varex Imaging (NASDAQ:VREX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Varex Imaging (NASDAQ:VREX – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

Varex Imaging Price Performance

Varex Imaging stock opened at $18.09 on Thursday. The business’s 50-day simple moving average is $19.27 and its 200 day simple moving average is $20.45. The stock has a market cap of $725.41 million, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.70 and a beta of 0.77. Varex Imaging has a 12-month low of $17.34 and a 12-month high of $24.03. The company has a quick ratio of 1.82, a current ratio of 3.86 and a debt-to-equity ratio of 0.84.

Varex Imaging (NASDAQ:VREX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). Varex Imaging had a net margin of 3.69% and a return on equity of 7.47%. The firm had revenue of $205.60 million during the quarter, compared to the consensus estimate of $205.35 million. As a group, research analysts anticipate that Varex Imaging will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Varex Imaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC boosted its holdings in Varex Imaging by 100.8% during the first quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock worth $26,000 after buying an additional 635 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Varex Imaging by 59.0% during the first quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock worth $62,000 after purchasing an additional 730 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Varex Imaging during the first quarter worth about $46,000. Shell Asset Management Co. acquired a new stake in shares of Varex Imaging during the third quarter worth about $111,000. Finally, Royal Bank of Canada raised its position in shares of Varex Imaging by 7.6% during the third quarter. Royal Bank of Canada now owns 6,423 shares of the company’s stock worth $136,000 after purchasing an additional 456 shares during the period.

About Varex Imaging

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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.