Q2 2020 EPS Estimates for Varex Imaging Corp Cut by Analyst (NASDAQ:VREX)

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Varex Imaging Corp (NASDAQ:VREX) – Jefferies Financial Group dropped their Q2 2020 earnings estimates for Varex Imaging in a report released on Wednesday, February 12th. Jefferies Financial Group analyst A. Petrone now anticipates that the company will post earnings per share of $0.35 for the quarter, down from their prior estimate of $0.37. Jefferies Financial Group currently has a “Hold” rating and a $30.00 price objective on the stock. Jefferies Financial Group also issued estimates for Varex Imaging’s Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.40 EPS and FY2022 earnings at $1.67 EPS.

Varex Imaging (NASDAQ:VREX) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.07). Varex Imaging had a net margin of 2.13% and a return on equity of 11.49%. The company had revenue of $200.10 million during the quarter, compared to the consensus estimate of $190.81 million.

A number of other research analysts also recently issued reports on VREX. Zacks Investment Research raised Varex Imaging from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Friday. BidaskClub downgraded Varex Imaging from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Oppenheimer assumed coverage on Varex Imaging in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, ValuEngine raised Varex Imaging from a “sell” rating to a “hold” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $35.25.

Shares of NASDAQ VREX traded down $0.04 during trading on Friday, reaching $25.93. The company had a trading volume of 2,140 shares, compared to its average volume of 190,356. The stock has a market cap of $999.69 million, a P/E ratio of 60.37, a PEG ratio of 4.07 and a beta of 1.86. The company has a quick ratio of 1.09, a current ratio of 2.50 and a debt-to-equity ratio of 0.81. The company’s fifty day moving average price is $29.63 and its 200-day moving average price is $29.20. Varex Imaging has a 12 month low of $23.10 and a 12 month high of $35.00.

Several large investors have recently made changes to their positions in VREX. Isthmus Partners LLC raised its holdings in shares of Varex Imaging by 1.0% in the fourth quarter. Isthmus Partners LLC now owns 41,542 shares of the company’s stock worth $1,238,000 after buying an additional 396 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Varex Imaging by 13.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,704 shares of the company’s stock worth $110,000 after purchasing an additional 432 shares during the last quarter. First National Bank of Omaha raised its holdings in shares of Varex Imaging by 2.5% during the third quarter. First National Bank of Omaha now owns 24,043 shares of the company’s stock worth $686,000 after purchasing an additional 584 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Varex Imaging by 4.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,181 shares of the company’s stock worth $484,000 after purchasing an additional 698 shares during the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Varex Imaging by 1.2% during the third quarter. California State Teachers Retirement System now owns 58,674 shares of the company’s stock worth $1,675,000 after purchasing an additional 701 shares during the last quarter. 89.22% 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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Earnings History and Estimates for Varex Imaging (NASDAQ:VREX)

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