Brokerages predict that Varex Imaging Corp (NASDAQ:VREX) will post $161.55 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Varex Imaging’s earnings. The lowest sales estimate is $159.54 million and the highest is $162.60 million. Varex Imaging reported sales of $202.40 million during the same quarter last year, which would suggest a negative year over year growth rate of 20.2%. The business is expected to issue its next earnings report on Tuesday, November 10th.
On average, analysts expect that Varex Imaging will report full year sales of $729.85 million for the current year, with estimates ranging from $727.84 million to $730.90 million. For the next fiscal year, analysts anticipate that the company will post sales of $717.22 million, with estimates ranging from $706.80 million to $736.10 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Varex Imaging.
Varex Imaging (NASDAQ:VREX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.19). Varex Imaging had a negative net margin of 2.89% and a positive return on equity of 4.93%. The business had revenue of $171.20 million for the quarter, compared to analysts’ expectations of $172.52 million.
In other news, CAO Kevin Bruce Yankton sold 1,629 shares of the firm’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $16.34, for a total value of $26,617.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP raised its stake in Varex Imaging by 5.3% during the 2nd quarter. Two Sigma Advisers LP now owns 51,900 shares of the company’s stock valued at $786,000 after purchasing an additional 2,600 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Varex Imaging by 4.5% in the 2nd quarter. Principal Financial Group Inc. now owns 317,125 shares of the company’s stock worth $4,804,000 after purchasing an additional 13,686 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Varex Imaging in the 2nd quarter worth approximately $167,000. AQR Capital Management LLC boosted its holdings in shares of Varex Imaging by 213.6% in the 2nd quarter. AQR Capital Management LLC now owns 72,744 shares of the company’s stock worth $1,102,000 after purchasing an additional 49,546 shares during the period. Finally, Engineers Gate Manager LP boosted its holdings in shares of Varex Imaging by 105.5% in the 2nd quarter. Engineers Gate Manager LP now owns 96,105 shares of the company’s stock worth $1,456,000 after purchasing an additional 49,343 shares during the period. 99.87% of the stock is currently owned by institutional investors.
VREX stock traded up $0.65 during trading on Friday, reaching $12.06. The stock had a trading volume of 389,805 shares, compared to its average volume of 459,451. Varex Imaging has a 52 week low of $10.36 and a 52 week high of $33.00. The stock’s 50 day moving average is $13.10 and its two-hundred day moving average is $17.93. The company has a current ratio of 2.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.83. The firm has a market cap of $471.55 million, a PE ratio of -21.16, a PEG ratio of 47.56 and a beta of 0.98.
About Varex Imaging
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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