Varex Imaging (NASDAQ:VREX) Lowered to Market Perform Rating by CJS Securities

Varex Imaging (NASDAQ:VREX) was downgraded by analysts at CJS Securities from an “outperform” rating to a “market perform” rating in a report issued on Monday, MarketBeat Ratings reports.

Several other equities research analysts also recently weighed in on VREX. Oppenheimer downgraded Varex Imaging from an “outperform” rating to a “market perform” rating in a report on Monday, August 10th. Sidoti restated a “neutral” rating and set a $19.00 price objective on shares of Varex Imaging in a report on Monday, August 10th. Weiss Ratings raised shares of Varex Imaging from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Varex Imaging from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Zacks Research downgraded shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Varex Imaging currently has a consensus rating of “Reduce” and a consensus price target of $16.88.

Varex Imaging Stock Performance

Shares of VREX opened at $18.49 on Monday. The company has a current ratio of 3.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64. The firm has a market cap of $778.43 million, a PE ratio of 35.56 and a beta of 0.89. Varex Imaging has a 12 month low of $9.09 and a 12 month high of $18.63. The stock has a fifty day moving average price of $11.60 and a 200-day moving average price of $11.67.

Varex Imaging (NASDAQ:VREX) last announced its earnings results on Monday, August 10th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.10. Varex Imaging had a return on equity of 9.19% and a net margin of 2.55%.The firm had revenue of $210.50 million for the quarter, compared to the consensus estimate of $215.50 million. Equities research analysts predict that Varex Imaging will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Varex Imaging

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pzena Investment Management LLC purchased a new stake in Varex Imaging during the 2nd quarter valued at about $45,312,000. BlackRock Inc. acquired a new stake in shares of Varex Imaging during the second quarter worth about $40,624,000. Vanguard Group Inc. lifted its holdings in shares of Varex Imaging by 4.4% during the third quarter. Vanguard Group Inc. now owns 2,989,847 shares of the company’s stock worth $37,074,000 after purchasing an additional 126,396 shares during the period. Cooke & Bieler LP boosted its position in Varex Imaging by 2.2% in the fourth quarter. Cooke & Bieler LP now owns 1,632,525 shares of the company’s stock valued at $19,019,000 after buying an additional 35,042 shares during the last quarter. Finally, Rice Hall James & Associates LLC purchased a new stake in Varex Imaging in the second quarter valued at approximately $15,080,000.

About Varex Imaging

Varex Imaging Corporation is a global provider of X-ray imaging components and solutions for the medical, security and industrial markets. The company designs, develops and manufactures a broad range of products that convert X-ray energy into high-resolution digital images. Its portfolio includes X-ray tubes, flat panel detectors, digital sensors, specialty radiographic tubes and related software, all engineered to meet the demanding requirements of original equipment manufacturers (OEMs) in diagnostic imaging, computed tomography (CT), fluoroscopy, mammography, dental radiography and non-destructive testing applications.

The company’s medical imaging offerings support a wide spectrum of clinical modalities, from portable radiography systems to advanced CT scanners, enhancing image quality and dose efficiency for healthcare providers.