Varex Imaging (NASDAQ:VREX) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Varex Imaging (NASDAQ:VREX) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Separately, B. Riley raised shares of Varex Imaging to a “strong-buy” rating in a research note on Monday, May 12th.

Varex Imaging Trading Up 1.0%

VREX stock opened at $8.81 on Friday. The firm has a fifty day moving average price of $8.12 and a 200 day moving average price of $10.83. Varex Imaging has a fifty-two week low of $6.76 and a fifty-two week high of $16.93. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.36 and a current ratio of 4.05. The firm has a market cap of $362.77 million, a PE ratio of -8.55 and a beta of 0.70.

Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.14 by $0.12. The company had revenue of $212.90 million during the quarter, compared to analyst estimates of $206.76 million. Varex Imaging had a negative net margin of 5.08% and a positive return on equity of 4.91%. Varex Imaging’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. Sell-side analysts anticipate that Varex Imaging will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new position in Varex Imaging during the fourth quarter worth $25,000. Quadrant Capital Group LLC boosted its stake in shares of Varex Imaging by 115.4% during the fourth quarter. Quadrant Capital Group LLC now owns 2,837 shares of the company’s stock valued at $41,000 after purchasing an additional 1,520 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Varex Imaging during the fourth quarter valued at $48,000. Quarry LP purchased a new stake in shares of Varex Imaging during the first quarter valued at $63,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Varex Imaging during the fourth quarter valued at $98,000.

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.