Equities research analysts forecast that Varex Imaging Corp (NASDAQ:VREX) will report sales of $192.59 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Varex Imaging’s earnings, with the lowest sales estimate coming in at $191.57 million and the highest estimate coming in at $193.60 million. Varex Imaging posted sales of $215.70 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 10.7%. The business is expected to report its next earnings report on Thursday, November 8th.
On average, analysts expect that Varex Imaging will report full year sales of $761.19 million for the current year, with estimates ranging from $760.17 million to $762.20 million. For the next financial year, analysts expect that the company will report sales of $783.54 million per share, with estimates ranging from $782.17 million to $784.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.17). Varex Imaging had a return on equity of 15.16% and a net margin of 5.39%. The company had revenue of $191.20 million for the quarter, compared to analyst estimates of $196.88 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year.
Several research analysts have issued reports on the company. Jefferies Financial Group dropped their price objective on Varex Imaging to $33.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. ValuEngine upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Finally, Zacks Investment Research lowered Varex Imaging from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $35.67.
Varex Imaging stock traded down $1.18 during mid-day trading on Monday, hitting $30.37. 25,693 shares of the company were exchanged, compared to its average volume of 302,068. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.16 and a quick ratio of 1.42. Varex Imaging has a 1-year low of $27.31 and a 1-year high of $43.76. The firm has a market capitalization of $1.19 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.36 and a beta of 1.80.
In other Varex Imaging news, Director Walter M. Rosebrough, Jr. bought 10,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was bought at an average cost of $28.39 per share, for a total transaction of $283,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sunny Sanyal bought 7,000 shares of the stock in a transaction dated Friday, August 10th. The stock was acquired at an average price of $28.18 per share, with a total value of $197,260.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,300 shares of company stock valued at $578,774. 1.60% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in VREX. Dubuque Bank & Trust Co. acquired a new stake in shares of Varex Imaging in the first quarter valued at $155,000. Victory Capital Management Inc. bought a new position in Varex Imaging in the first quarter valued at about $211,000. Amalgamated Bank bought a new position in Varex Imaging in the second quarter valued at about $231,000. Xact Kapitalforvaltning AB boosted its holdings in Varex Imaging by 27.7% in the first quarter. Xact Kapitalforvaltning AB now owns 6,916 shares of the company’s stock valued at $247,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in Varex Imaging by 32.3% in the first quarter. Profund Advisors LLC now owns 7,545 shares of the company’s stock valued at $270,000 after acquiring an additional 1,843 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.
Varex Imaging Company Profile
Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.
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