Wall Street Zen Downgrades Varex Imaging (NASDAQ:VREX) to Buy

Varex Imaging (NASDAQ:VREX) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, B. Riley raised their price objective on Varex Imaging from $12.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday.

Varex Imaging Trading Up 21.4%

Shares of NASDAQ:VREX opened at $9.48 on Friday. Varex Imaging has a 52-week low of $6.76 and a 52-week high of $16.93. The stock has a market cap of $390.58 million, a price-to-earnings ratio of -2.95 and a beta of 0.68. The company has a quick ratio of 2.36, a current ratio of 4.05 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $8.04 and a 200-day moving average price of $9.75.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.14. Varex Imaging had a positive return on equity of 5.33% and a negative net margin of 16.13%. The firm had revenue of $203.00 million during the quarter, compared to analysts’ expectations of $190.32 million. Equities analysts predict that Varex Imaging will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Varex Imaging by 6.5% during the first quarter. Assenagon Asset Management S.A. now owns 113,573 shares of the company’s stock valued at $1,317,000 after acquiring an additional 6,953 shares in the last quarter. SG Americas Securities LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $1,092,000. GAMMA Investing LLC raised its position in Varex Imaging by 960.3% during the first quarter. GAMMA Investing LLC now owns 16,170 shares of the company’s stock valued at $188,000 after acquiring an additional 14,645 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Varex Imaging during the fourth quarter valued at approximately $190,000. Finally, Deutsche Bank AG raised its position in Varex Imaging by 84.5% during the fourth quarter. Deutsche Bank AG now owns 31,463 shares of the company’s stock valued at $459,000 after acquiring an additional 14,407 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 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.