Oppenheimer Lowers Varex Imaging (NASDAQ:VREX) Price Target to $23.00

Varex Imaging (NASDAQ:VREX) had its price objective decreased by Oppenheimer from $30.00 to $23.00 in a report published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on VREX. StockNews.com cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. B. Riley reiterated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Varex Imaging in a report on Friday.

Varex Imaging Price Performance

Shares of Varex Imaging stock opened at $12.27 on Friday. The stock has a 50 day moving average of $14.54 and a 200 day moving average of $13.39. The company has a current ratio of 3.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.72. Varex Imaging has a fifty-two week low of $10.19 and a fifty-two week high of $18.30.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a positive return on equity of 3.96% and a negative net margin of 5.79%. As a group, sell-side analysts forecast that Varex Imaging will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

A number of hedge funds and other institutional investors have recently bought and sold shares of VREX. FMR LLC increased its stake in Varex Imaging by 4,739.2% during the third quarter. FMR LLC now owns 200,341 shares of the company’s stock worth $2,388,000 after purchasing an additional 196,201 shares during the period. Barclays PLC grew its holdings in shares of Varex Imaging by 15.3% in the third quarter. Barclays PLC now owns 97,883 shares of the company’s stock valued at $1,166,000 after purchasing an additional 12,966 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Varex Imaging by 37.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 185,506 shares of the company’s stock worth $2,211,000 after buying an additional 50,382 shares during the period. Point72 Asset Management L.P. acquired a new stake in Varex Imaging during the 3rd quarter worth approximately $415,000. Finally, BNP Paribas Financial Markets boosted its position in Varex Imaging by 1,359.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,295 shares of the company’s stock valued at $623,000 after buying an additional 48,713 shares during the period.

Varex Imaging Company Profile

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.