Varex Imaging (NASDAQ:VREX) Releases Earnings Results

Varex Imaging (NASDAQ:VREX) posted its earnings results on Tuesday. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.12, Briefing.com reports. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $233.38 million. Varex Imaging had a return on equity of 9.60% and a net margin of 5.40%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Varex Imaging updated its Q1 guidance to $0.00-0.20 EPS.

Varex Imaging Stock Performance

VREX stock opened at $18.73 on Friday. The company has a market cap of $756.69 million, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 0.50 and a beta of 0.81. Varex Imaging has a 1 year low of $17.05 and a 1 year high of $23.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.04 and a quick ratio of 2.15. The stock’s fifty day moving average price is $18.54 and its 200-day moving average price is $20.72.

Analyst Upgrades and Downgrades

A number of analysts have commented on VREX shares. StockNews.com raised Varex Imaging from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Oppenheimer reduced their target price on Varex Imaging from $42.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, TheStreet lowered Varex Imaging from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th.

Hedge Funds Weigh In On Varex Imaging

A number of institutional investors and hedge funds have recently modified their holdings of VREX. BlackRock Inc. boosted its stake in shares of Varex Imaging by 5.1% in the 3rd quarter. BlackRock Inc. now owns 7,116,701 shares of the company’s stock worth $150,448,000 after buying an additional 345,392 shares during the last quarter. Norges Bank purchased a new position in shares of Varex Imaging in the 4th quarter worth $6,602,000. Dimensional Fund Advisors LP boosted its stake in shares of Varex Imaging by 12.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,226,831 shares of the company’s stock worth $40,505,000 after buying an additional 238,208 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Varex Imaging by 1,513.3% in the 4th quarter. Two Sigma Investments LP now owns 190,365 shares of the company’s stock worth $3,864,000 after buying an additional 178,565 shares during the last quarter. Finally, Shapiro Capital Management LLC boosted its stake in shares of Varex Imaging by 5.7% in the 1st quarter. Shapiro Capital Management LLC now owns 3,146,292 shares of the company’s stock worth $66,985,000 after buying an additional 168,322 shares during the last quarter.

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, high voltage connectors, image-processing software and workstations, 3D reconstruction and computer-aided diagnostic software, collimators, automatic exposure control devices, generators, heat exchangers, ionization chambers, and buckys.