Varex Imaging (NASDAQ:VREX) Upgraded by StockNews.com to Buy Rating

Varex Imaging (NASDAQ:VREX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

Several other brokerages have also recently weighed in on VREX. Oppenheimer dropped their price objective on Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a report on Friday. B. Riley restated a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Varex Imaging in a research report on Friday.

Varex Imaging Price Performance

Shares of VREX stock traded down $2.93 during trading hours on Friday, hitting $12.27. 2,156,020 shares of the company’s stock were exchanged, compared to its average volume of 480,645. The stock’s 50-day moving average is $14.54 and its 200-day moving average is $13.39. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. The stock has a market cap of $505.89 million, a price-to-earnings ratio of -10.49 and a beta of 0.62. Varex Imaging has a 52 week low of $10.19 and a 52 week high of $18.30.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Thursday, February 6th. The company reported $0.07 EPS for the quarter, topping 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%. As a group, research analysts forecast that Varex Imaging will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of Varex Imaging in the 3rd quarter valued at about $41,000. US Bancorp DE increased its stake in shares of Varex Imaging by 149.8% in the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock valued at $108,000 after acquiring an additional 4,429 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of 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. CWM LLC increased its stake in shares of Varex Imaging by 2,384.2% in the 3rd quarter. CWM LLC now owns 9,589 shares of the company’s stock valued at $114,000 after acquiring an additional 9,203 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Varex Imaging in the 4th quarter valued at about $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.