Varex Imaging (NASDAQ:VREX) Releases FY19 Earnings Guidance

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Varex Imaging (NASDAQ:VREX) updated its FY19 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.30-1.45 for the period, compared to the Thomson Reuters consensus estimate of $1.28. The company issued revenue guidance of $790-805 million, compared to the consensus revenue estimate of $782.32 million.

A number of research firms have issued reports on VREX. BidaskClub upgraded shares of Varex Imaging from a hold rating to a buy rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on shares of Varex Imaging from $34.00 to $32.00 and set a neutral rating on the stock in a research note on Wednesday. ValuEngine lowered shares of Varex Imaging from a hold rating to a sell rating in a research note on Thursday, October 10th. Oppenheimer initiated coverage on shares of Varex Imaging in a research note on Tuesday, October 22nd. They issued an outperform rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group set a $31.00 price target on shares of Varex Imaging and gave the company a buy rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $35.83.

Shares of NASDAQ:VREX opened at $29.78 on Friday. Varex Imaging has a 12-month low of $21.57 and a 12-month high of $35.00. The company has a current ratio of 2.58, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 3.02 and a beta of 1.90. The stock’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $29.19.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $202.40 million during the quarter, compared to analyst estimates of $204.14 million. Varex Imaging had a return on equity of 11.59% and a net margin of 2.13%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, research analysts forecast that Varex Imaging will post 1.35 earnings per share for the current fiscal year.

In other news, CFO Clarence R. Verhoef sold 21,047 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $28.94, for a total transaction of $609,100.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Mark S. Jonaitis sold 13,530 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $31.02, for a total value of $419,700.60. The disclosure for this sale can be found here. Corporate insiders own 2.40% 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 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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Earnings History and Estimates for Varex Imaging (NASDAQ:VREX)

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