Varex Imaging (NASDAQ:VREX – Get Free Report) posted its earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10, FiscalAI reports. The company had revenue of $210.50 million during the quarter, compared to analysts’ expectations of $215.50 million. Varex Imaging had a negative net margin of 9.64% and a positive return on equity of 8.19%.
Varex Imaging Price Performance
Shares of VREX opened at $12.41 on Monday. The company has a current ratio of 3.20, a quick ratio of 1.43 and a debt-to-equity ratio of 0.67. Varex Imaging has a 12 month low of $8.42 and a 12 month high of $14.56. The firm’s 50 day moving average is $10.77 and its 200-day moving average is $11.51. The stock has a market capitalization of $522.46 million, a PE ratio of -6.21 and a beta of 0.89.
Wall Street Analyst Weigh In
VREX has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Varex Imaging in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Varex Imaging from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded Varex Imaging from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.17.
Hedge Funds Weigh In On Varex Imaging
Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in Varex Imaging in the 3rd quarter valued at $64,000. BNP Paribas Financial Markets grew its holdings in shares of Varex Imaging by 18.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,045 shares of the company’s stock worth $113,000 after purchasing an additional 2,036 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Varex Imaging in the third quarter worth $117,000. Cerity Partners LLC bought a new position in shares of Varex Imaging in the second quarter worth $123,000. Finally, The Manufacturers Life Insurance Company raised its stake in Varex Imaging by 10.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,302 shares of the company’s stock valued at $133,000 after purchasing an additional 1,442 shares in the last quarter.
Varex Imaging Company Profile
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.
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