Analysts expect Varex Imaging Corp (NASDAQ:VREX) to post $187.55 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Varex Imaging’s earnings. The highest sales estimate is $192.20 million and the lowest is $182.10 million. Varex Imaging posted sales of $191.20 million during the same quarter last year, which suggests a negative year over year growth rate of 1.9%. The company is scheduled to report its next earnings results on Thursday, August 1st.
On average, analysts expect that Varex Imaging will report full year sales of $774.25 million for the current financial year, with estimates ranging from $770.00 million to $777.60 million. For the next fiscal year, analysts anticipate that the business will post sales of $796.41 million, with estimates ranging from $780.70 million to $814.24 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.01. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The firm had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $194.76 million. During the same period in the previous year, the firm earned $0.45 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis.
A number of research firms have recently weighed in on VREX. Northland Securities reaffirmed a “buy” rating and set a $42.00 price objective on shares of Varex Imaging in a research report on Wednesday, May 15th. Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Saturday, May 11th. Finally, CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a research report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Varex Imaging presently has an average rating of “Buy” and an average target price of $34.60.
Shares of VREX stock traded down $0.37 during trading hours on Thursday, reaching $28.44. 123,248 shares of the company traded hands, compared to its average volume of 253,128. Varex Imaging has a 12-month low of $21.57 and a 12-month high of $39.39. The company has a quick ratio of 1.13, a current ratio of 2.80 and a debt-to-equity ratio of 0.73. The stock has a market cap of $1.09 billion, a P/E ratio of 21.88, a PEG ratio of 2.10 and a beta of 1.74.
A number of institutional investors and hedge funds have recently modified their holdings of VREX. NumerixS Investment Technologies Inc raised its stake in Varex Imaging by 125.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the company’s stock valued at $43,000 after purchasing an additional 1,000 shares during the period. Public Employees Retirement System of Ohio raised its stake in Varex Imaging by 62.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,849 shares of the company’s stock valued at $44,000 after purchasing an additional 712 shares during the period. Fifth Third Bancorp raised its stake in Varex Imaging by 33.6% during the 1st quarter. Fifth Third Bancorp now owns 1,548 shares of the company’s stock valued at $52,000 after purchasing an additional 389 shares during the period. Quadrant Capital Group LLC raised its stake in Varex Imaging by 478.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,678 shares of the company’s stock valued at $55,000 after purchasing an additional 1,388 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Varex Imaging by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,907 shares of the company’s stock valued at $69,000 after purchasing an additional 715 shares during the period. 93.88% of the stock is currently owned by institutional investors.
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 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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