Varex Imaging (NASDAQ:VREX) Stock Rating Lowered by J P Morgan Chase & Co

J P Morgan Chase & Co cut shares of Varex Imaging (NASDAQ:VREX) from a neutral rating to an underweight rating in a research note released on Wednesday, October 4th, MarketBeat Ratings reports. J P Morgan Chase & Co currently has $33.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Group LLC began coverage on Varex Imaging in a research note on Wednesday, August 9th. They issued a buy rating and a $34.00 target price on the stock. Zacks Investment Research cut shares of Varex Imaging from a strong-buy rating to a hold rating in a research report on Friday, July 7th.

Varex Imaging (NASDAQ:VREX) opened at 33.03 on Wednesday. The company’s 50 day moving average is $32.37 and its 200 day moving average is $32.71. The stock has a market cap of $1.24 billion and a PE ratio of 21.13. Varex Imaging has a one year low of $25.00 and a one year high of $36.58.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Thursday, August 3rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The business had revenue of $170.00 million during the quarter, compared to the consensus estimate of $179.05 million. The company’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Varex Imaging will post $1.59 EPS for the current year.

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A number of large investors have recently made changes to their positions in the business. Security National Trust Co. bought a new stake in Varex Imaging in the second quarter valued at $108,000. Ameritas Investment Partners Inc. bought a new stake in Varex Imaging in the second quarter valued at $112,000. Howard Hughes Medical Institute bought a new stake in Varex Imaging in the second quarter valued at $134,000. Oppenheimer Asset Management Inc. bought a new stake in Varex Imaging in the second quarter valued at $136,000. Finally, Hussman Strategic Advisors Inc. bought a new stake in Varex Imaging in the second quarter valued at $147,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

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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