Varex Imaging (NASDAQ:VREX) Downgraded by StockNews.com

StockNews.com downgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a research report sent to investors on Monday.

Separately, TheStreet lowered shares of Varex Imaging from a b- rating to a c rating in a research report on Tuesday, February 6th.

Varex Imaging Stock Down 0.6 %

Varex Imaging stock opened at $15.75 on Monday. Varex Imaging has a twelve month low of $14.56 and a twelve month high of $23.90. The stock has a market cap of $644.18 million, a P/E ratio of 17.70, a P/E/G ratio of 2.25 and a beta of 0.72. The company’s 50-day moving average price is $17.23 and its two-hundred day moving average price is $18.45. The company has a quick ratio of 2.37, a current ratio of 4.23 and a debt-to-equity ratio of 0.75.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). Varex Imaging had a return on equity of 8.26% and a net margin of 4.90%. The firm had revenue of $206.20 million for the quarter, compared to analyst estimates of $205.15 million. During the same period in the previous year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, analysts expect that Varex Imaging will post 0.99 EPS for the current year.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VREX. Quest Partners LLC bought a new position in shares of Varex Imaging in the fourth quarter worth $30,000. Federated Hermes Inc. grew its stake in Varex Imaging by 216.3% during the third quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after buying an additional 1,218 shares in the last quarter. GAMMA Investing LLC bought a new position in Varex Imaging in the 4th quarter valued at about $53,000. Inspire Advisors LLC acquired a new position in shares of Varex Imaging in the 1st quarter valued at approximately $184,000. Finally, Jump Financial LLC bought a new stake in shares of Varex Imaging during the 4th quarter worth approximately $214,000.

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.