Varex Imaging Co. (NASDAQ:VREX – Get Free Report) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $16.43, but opened at $14.57. Varex Imaging shares last traded at $15.68, with a volume of 273,337 shares changing hands.
The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The business had revenue of $206.20 million during the quarter, compared to analysts’ expectations of $205.15 million. Varex Imaging had a return on equity of 8.34% and a net margin of 4.90%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS.
Wall Street Analysts Forecast Growth
Separately, TheStreet cut Varex Imaging from a “b-” rating to a “c” rating in a report on Tuesday, February 6th.
Hedge Funds Weigh In On Varex Imaging
Several institutional investors and hedge funds have recently bought and sold shares of VREX. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Varex Imaging by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 170,232 shares of the company’s stock worth $3,199,000 after buying an additional 788 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in Varex Imaging by 3.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 24,105 shares of the company’s stock valued at $494,000 after buying an additional 832 shares during the period. Federated Hermes Inc. grew its stake in Varex Imaging by 216.3% in the third quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after purchasing an additional 1,218 shares in the last quarter. Quest Partners LLC bought a new position in shares of Varex Imaging during the 4th quarter worth $30,000. Finally, Swiss National Bank grew its holdings in Varex Imaging by 1.7% during the 3rd quarter. Swiss National Bank now owns 88,840 shares of the company’s stock worth $1,669,000 after acquiring an additional 1,500 shares in the last quarter.
Varex Imaging Trading Down 5.1 %
The company’s fifty day moving average is $17.32 and its 200-day moving average is $18.49. The company has a market capitalization of $632.95 million, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.37 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.30 and a quick ratio of 2.37.
About Varex Imaging
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.
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