Varex Imaging (NASDAQ:VREX – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.
NASDAQ VREX opened at $22.09 on Friday. The firm’s fifty day simple moving average is $24.91 and its two-hundred day simple moving average is $27.32. The company has a current ratio of 3.72, a quick ratio of 2.07 and a debt-to-equity ratio of 0.86. Varex Imaging has a 12-month low of $20.18 and a 12-month high of $32.65. The firm has a market capitalization of $874.76 million, a P/E ratio of 36.82 and a beta of 0.96.
Varex Imaging (NASDAQ:VREX – Get Rating) last released its quarterly earnings results on Tuesday, February 8th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). The firm had revenue of $198.80 million during the quarter, compared to analysts’ expectations of $208.27 million. Varex Imaging had a return on equity of 12.09% and a net margin of 3.00%. Varex Imaging’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share.
In other news, CEO Sunny Sanyal sold 30,473 shares of the business’s stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $32.01, for a total transaction of $975,440.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Varex Imaging during the fourth quarter valued at $11,027,000. Barclays PLC boosted its holdings in Varex Imaging by 105.8% in the fourth quarter. Barclays PLC now owns 68,085 shares of the company’s stock valued at $2,148,000 after purchasing an additional 35,001 shares during the last quarter. BlackRock Inc. boosted its holdings in Varex Imaging by 0.8% in the fourth quarter. BlackRock Inc. now owns 6,676,255 shares of the company’s stock valued at $210,637,000 after purchasing an additional 52,705 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new stake in Varex Imaging in the fourth quarter valued at $365,000. Finally, Allianz Asset Management GmbH purchased a new stake in Varex Imaging in the fourth quarter valued at $475,000.
About Varex Imaging
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.