Varex Imaging (VREX) PT Raised to $39.00 at Jefferies Group

Varex Imaging (NASDAQ:VREX) had its target price increased by stock analysts at Jefferies Group to $39.00 in a report released on Friday, November 10th, The Fly reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 5.18% from the stock’s previous close. Jefferies Group also issued estimates for Varex Imaging’s Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.55 EPS and FY2022 earnings at $2.93 EPS.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Varex Imaging from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. J P Morgan Chase & Co lowered shares of Varex Imaging from a “neutral” rating to an “underweight” rating and set a $33.00 price objective for the company. in a research note on Wednesday, October 4th.

Shares of Varex Imaging (NASDAQ VREX) traded down $0.42 on Friday, reaching $37.08. 442,200 shares of the company’s stock were exchanged, compared to its average volume of 429,455. The company has a quick ratio of 1.72, a current ratio of 3.26 and a debt-to-equity ratio of 1.22. Varex Imaging has a twelve month low of $25.00 and a twelve month high of $37.52.

Varex Imaging (NASDAQ:VREX) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The company had revenue of $216.00 million for the quarter, compared to analysts’ expectations of $213.73 million. The firm’s quarterly revenue was up 25.5% on a year-over-year basis. analysts forecast that Varex Imaging will post 1.82 earnings per share for the current fiscal year.

In other news, insider Sunny Sanyal sold 50,000 shares of Varex Imaging stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total transaction of $1,825,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds have recently added to or reduced their stakes in VREX. Hussman Strategic Advisors Inc. bought a new stake in shares of Varex Imaging in the second quarter valued at about $147,000. Independent Order of Foresters bought a new stake in shares of Varex Imaging in the second quarter valued at about $243,000. Seaward Management Limited Partnership bought a new stake in shares of Varex Imaging in the second quarter valued at about $213,000. Schwab Charles Investment Management Inc. purchased a new position in Varex Imaging in the second quarter valued at about $5,349,000. Finally, Foundry Partners LLC purchased a new position in Varex Imaging in the second quarter valued at about $455,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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Varex Imaging Company Profile

Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.

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