StockNews.com Upgrades Varex Imaging (NASDAQ:VREX) to “Buy”

StockNews.com upgraded shares of Varex Imaging (NASDAQ:VREX) from a hold rating to a buy rating in a report released on Friday morning.

A number of other analysts also recently weighed in on the company. Oppenheimer cut their target price on Varex Imaging from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday. B. Riley reaffirmed a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of Varex Imaging in a research report on Friday.

Varex Imaging Price Performance

VREX stock opened at $12.27 on Friday. Varex Imaging has a 52 week low of $10.19 and a 52 week high of $18.30. The company’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.97 and a current ratio of 3.32.

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

Institutional Investors Weigh In On Varex Imaging

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new position in shares of Varex Imaging in the 3rd quarter valued at $41,000. US Bancorp DE boosted its stake in Varex Imaging by 149.8% in the fourth quarter. US Bancorp DE now owns 7,386 shares of the company’s stock valued at $108,000 after buying an additional 4,429 shares in the last quarter. CWM LLC grew its position in Varex Imaging by 2,384.2% in the third quarter. CWM LLC now owns 9,589 shares of the company’s stock valued at $114,000 after acquiring an additional 9,203 shares during the last quarter. New York State Common Retirement Fund raised its stake in Varex Imaging by 60.7% during the fourth quarter. New York State Common Retirement Fund now owns 9,531 shares of the company’s stock worth $139,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Varex Imaging in the fourth quarter worth about $147,000.

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.