Varex Imaging (NASDAQ:VREX) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Friday.
Several other research analysts have also recently issued reports on the company. Jefferies Financial Group reduced 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. Zacks Investment Research upgraded Varex Imaging from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, ValuEngine upgraded Varex Imaging from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Varex Imaging currently has an average rating of “Hold” and a consensus price target of $37.00.
Shares of NASDAQ:VREX opened at $25.18 on Friday. Varex Imaging has a 52-week low of $24.06 and a 52-week high of $43.76. The stock has a market capitalization of $937.38 million, a PE ratio of 13.99, a PEG ratio of 1.55 and a beta of 1.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.16 and a quick ratio of 1.42.
In related news, CFO Clarence R. Verhoef bought 3,300 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were purchased at an average cost of $29.58 per share, with a total value of $97,614.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sunny Sanyal bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average cost of $28.18 per share, for a total transaction 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. Company insiders own 1.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VREX. BlackRock Inc. grew its holdings in Varex Imaging by 9.5% during the second quarter. BlackRock Inc. now owns 5,549,006 shares of the company’s stock worth $205,812,000 after acquiring an additional 479,694 shares during the period. WINTON GROUP Ltd grew its holdings in Varex Imaging by 1,106.1% during the second quarter. WINTON GROUP Ltd now owns 494,541 shares of the company’s stock worth $18,343,000 after acquiring an additional 453,536 shares during the period. Cooke & Bieler LP grew its holdings in Varex Imaging by 46.0% during the second quarter. Cooke & Bieler LP now owns 640,460 shares of the company’s stock worth $23,755,000 after acquiring an additional 201,929 shares during the period. Wells Fargo & Company MN grew its holdings in Varex Imaging by 85.7% during the second quarter. Wells Fargo & Company MN now owns 340,406 shares of the company’s stock worth $12,627,000 after acquiring an additional 157,139 shares during the period. Finally, Bank of Montreal Can grew its holdings in Varex Imaging by 2,297.1% during the second quarter. Bank of Montreal Can now owns 134,168 shares of the company’s stock worth $4,977,000 after acquiring an additional 128,571 shares during the period. 93.52% of the stock is currently owned by hedge funds and other 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 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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