Varex Imaging (NASDAQ:VREX) Upgraded at StockNews.com

StockNews.com upgraded shares of Varex Imaging (NASDAQ:VREX) from a hold rating to a buy rating in a report published on Friday morning.

A number of other equities research analysts have also commented on VREX. Oppenheimer reduced their price target on Varex Imaging from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday. B. Riley restated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a research report on Friday.

Varex Imaging Stock Down 19.3 %

Shares of NASDAQ VREX opened at $12.27 on Friday. The company has a 50 day simple moving average of $14.45 and a 200 day simple moving average of $13.36. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. Varex Imaging has a 1 year low of $10.19 and a 1 year high of $18.30. The firm has a market cap of $505.89 million, a PE ratio of -10.49 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 3.96%. On average, research analysts forecast that Varex Imaging will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Varex Imaging

Several large investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC boosted its holdings in shares of Varex Imaging by 51.4% during the 3rd quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company’s stock worth $46,379,000 after buying an additional 1,321,666 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Varex Imaging in the third quarter worth $19,801,000. Wealthfront Advisers LLC bought a new stake in Varex Imaging in the fourth quarter valued at $18,900,000. Geode Capital Management LLC raised its holdings in shares of Varex Imaging by 0.5% during the third quarter. Geode Capital Management LLC now owns 929,004 shares of the company’s stock valued at $11,076,000 after purchasing an additional 4,211 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Varex Imaging by 230.6% during the 3rd quarter. Jane Street Group LLC now owns 551,157 shares of the company’s stock worth $6,570,000 after purchasing an additional 384,448 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.