Varex Imaging (NASDAQ:VREX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a hold rating in a report issued on Monday morning.

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

Varex Imaging Stock Performance

NASDAQ VREX opened at $15.89 on Monday. Varex Imaging has a 52-week low of $14.56 and a 52-week high of $23.90. The company has a fifty day moving average of $17.21 and a 200-day moving average of $18.43. The company has a market capitalization of $649.90 million, a P/E ratio of 17.85, a P/E/G ratio of 2.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.37 and a current ratio of 4.23.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Varex Imaging by 0.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,033,263 shares of the company’s stock valued at $62,182,000 after buying an additional 14,963 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Varex Imaging by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,519,686 shares of the company’s stock worth $51,654,000 after purchasing an additional 145,968 shares during the period. Pzena Investment Management LLC grew its stake in shares of Varex Imaging by 68.7% in the first quarter. Pzena Investment Management LLC now owns 1,815,759 shares of the company’s stock worth $32,865,000 after purchasing an additional 739,224 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Varex Imaging during the 4th quarter valued at about $20,481,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Varex Imaging by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 529,243 shares of the company’s stock valued at $10,849,000 after purchasing an additional 26,411 shares during the period.

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.