Varex Imaging Corp (NASDAQ:VREX) – Equities research analysts at Jefferies Financial Group dropped their FY2020 EPS estimates for shares of Varex Imaging in a note issued to investors on Monday, August 12th. Jefferies Financial Group analyst A. Petrone now forecasts that the company will post earnings of $1.31 per share for the year, down from their previous estimate of $1.40. Jefferies Financial Group currently has a “Buy” rating and a $31.00 target price on the stock. Jefferies Financial Group also issued estimates for Varex Imaging’s FY2021 earnings at $1.45 EPS and FY2022 earnings at $1.65 EPS.
Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The company had revenue of $196.70 million for the quarter, compared to the consensus estimate of $189.42 million. Varex Imaging had a net margin of 0.97% and a return on equity of 10.01%. Varex Imaging’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS.
Shares of NASDAQ VREX opened at $25.54 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 2.58. The company has a market cap of $996.48 million, a PE ratio of 19.65, a P/E/G ratio of 1.94 and a beta of 1.80. The business has a 50-day simple moving average of $30.00 and a two-hundred day simple moving average of $30.83. Varex Imaging has a fifty-two week low of $21.57 and a fifty-two week high of $35.00.
In other news, SVP Kimberley E. Honeysett sold 916 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $30.00, for a total value of $27,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Bruce Yankton sold 1,149 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $31.00, for a total value of $35,619.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,333 shares of company stock valued at $71,289. Company insiders own 2.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in Varex Imaging by 62.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock valued at $44,000 after acquiring an additional 712 shares in the last quarter. Quadrant Capital Group LLC raised its position in Varex Imaging by 478.6% during the first quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock valued at $55,000 after acquiring an additional 1,388 shares in the last quarter. Wealth Architects LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $206,000. Magnus Financial Group LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $209,000. Finally, Janney Montgomery Scott LLC purchased a new position in Varex Imaging during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.
About Varex Imaging
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in 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, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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