Varex Imaging (NASDAQ:VREX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Varex Imaging (NASDAQ:VREX – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the stock.

Varex Imaging Price Performance

VREX opened at $18.13 on Thursday. The stock has a 50-day moving average price of $19.21 and a 200-day moving average price of $20.41. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.86 and a quick ratio of 1.82. The firm has a market cap of $727.01 million, a PE ratio of 23.24, a P/E/G ratio of 0.72 and a beta of 0.77. Varex Imaging has a 1 year low of $17.34 and a 1 year high of $23.78.

Varex Imaging (NASDAQ:VREX – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $205.60 million during the quarter, compared to analysts’ expectations of $205.35 million. Varex Imaging had a return on equity of 7.47% and a net margin of 3.69%. Sell-side analysts predict that Varex Imaging will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Several large investors have recently modified their holdings of VREX. Envestnet Asset Management Inc. raised its position in shares of Varex Imaging by 36.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,859 shares of the company’s stock worth $231,000 after purchasing an additional 2,901 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Varex Imaging by 59.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,968 shares of the company’s stock worth $62,000 after buying an additional 730 shares during the last quarter. JPMorgan Chase & Co. raised its position in Varex Imaging by 31.0% in the 1st quarter. JPMorgan Chase & Co. now owns 347,400 shares of the company’s stock worth $7,396,000 after buying an additional 82,155 shares during the last quarter. Raymond James & Associates purchased a new position in Varex Imaging in the 1st quarter worth about $235,000. Finally, Citigroup Inc. raised its position in Varex Imaging by 10.2% in the 1st quarter. Citigroup Inc. now owns 39,115 shares of the company’s stock worth $833,000 after buying an additional 3,627 shares during the last quarter.

About Varex Imaging

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Varex Imaging Corp. engages in the design, manufacture, and sale of imaging components. It operates through the Medical and Industrial segments. The Medical segment delivers and services x-ray imaging components, including X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, and three-dimensional reconstruction software.