StockNews.com Downgrades Varex Imaging (NASDAQ:VREX) to Hold

Varex Imaging (NASDAQ:VREX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, TheStreet lowered shares of Varex Imaging from a “b-” rating to a “c” rating in a report on Tuesday, February 6th.

Varex Imaging Stock Performance

Shares of VREX opened at $15.85 on Monday. Varex Imaging has a 12-month low of $14.56 and a 12-month high of $23.90. The stock has a market cap of $648.27 million, a P/E ratio of 17.81, a PEG ratio of 2.25 and a beta of 0.72. The company has a current ratio of 4.23, a quick ratio of 2.37 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $17.26 and a two-hundred day moving average of $18.47.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $206.20 million for the quarter, compared to analyst estimates 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 for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, research analysts predict that Varex Imaging will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Varex Imaging in the 4th quarter valued at about $30,000. Federated Hermes Inc. raised its stake in shares of Varex Imaging by 216.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock valued at $33,000 after acquiring an additional 1,218 shares during the period. GAMMA Investing LLC acquired a new position in shares of Varex Imaging during the 4th quarter valued at $53,000. Jump Financial LLC acquired a new stake in Varex Imaging in the 4th quarter valued at $214,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Varex Imaging during the third quarter worth about $230,000.

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.