Varex Imaging (NASDAQ:VREX) Shares Gap Down – Here’s Why

Varex Imaging Co. (NASDAQ:VREX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $15.20, but opened at $13.50. Varex Imaging shares last traded at $12.99, with a volume of 471,128 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on VREX shares. StockNews.com downgraded shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. B. Riley reiterated a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Varex Imaging in a report on Friday.

Varex Imaging Stock Performance

The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72. The firm has a market cap of $493.11 million, a PE ratio of -10.26 and a beta of 0.62. The firm has a 50-day moving average price of $14.54 and a two-hundred day moving average price of $13.39.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a positive return on equity of 3.85% and a negative net margin of 5.88%. Research analysts forecast that Varex Imaging Co. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Varex Imaging

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Varex Imaging in the 3rd quarter worth $41,000. US Bancorp DE grew its position in Varex Imaging by 149.8% during the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock worth $108,000 after purchasing an additional 4,429 shares during the period. CWM LLC raised its position in Varex Imaging by 2,384.2% during the third quarter. CWM LLC now owns 9,589 shares of the company’s stock worth $114,000 after acquiring an additional 9,203 shares during the period. New York State Common Retirement Fund raised its holdings in Varex Imaging by 60.7% in the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company’s stock valued at $139,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Varex Imaging in the 4th quarter worth approximately $147,000.

Varex Imaging Company Profile

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.