StockNews.com Upgrades Varex Imaging (NASDAQ:VREX) to Strong-Buy

Varex Imaging (NASDAQ:VREX) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Other analysts also recently issued reports about the company. Oppenheimer decreased their price objective on Varex Imaging from $42.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday. TheStreet downgraded Varex Imaging from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th.

Varex Imaging Stock Down 2.7 %

NASDAQ VREX opened at $18.73 on Wednesday. The business has a fifty day moving average price of $18.54 and a two-hundred day moving average price of $20.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.03 and a quick ratio of 2.15. Varex Imaging has a fifty-two week low of $17.05 and a fifty-two week high of $23.90. The stock has a market capitalization of $756.69 million, a PE ratio of 26.38, a PEG ratio of 0.48 and a beta of 0.81.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Varex Imaging had a return on equity of 8.24% and a net margin of 3.28%. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $233.38 million. During the same period in the prior year, the company earned $0.32 EPS. Varex Imaging’s revenue was down 1.7% compared to the same quarter last year. Equities analysts expect that Varex Imaging will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Several large investors have recently added to or reduced their stakes in VREX. Ancora Advisors LLC lifted its position in Varex Imaging by 100.8% in the 1st quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock valued at $26,000 after acquiring an additional 635 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Varex Imaging by 216.3% during the 3rd 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. Quarry LP lifted its position in shares of Varex Imaging by 70.1% during the 1st quarter. Quarry LP now owns 2,305 shares of the company’s stock worth $42,000 after buying an additional 950 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Varex Imaging during the 1st quarter worth approximately $46,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Varex Imaging by 59.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock worth $62,000 after buying an additional 730 shares in the last quarter.

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, 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.