Varex Imaging (NASDAQ:VREX) Given New $23.00 Price Target at Oppenheimer

Varex Imaging (NASDAQ:VREX - Free Report) had its target price trimmed by Oppenheimer from $30.00 to $23.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. B. Riley reiterated a "buy" rating and issued a $22.00 price objective (up from $21.00) on shares of Varex Imaging in a report on Friday. StockNews.com downgraded shares of Varex Imaging from a "buy" rating to a "hold" rating in a research note on Thursday, January 30th.

Varex Imaging Stock Performance

NASDAQ VREX traded up $0.54 on Friday, hitting $13.50. 1,420,839 shares of the stock were exchanged, compared to its average volume of 534,190. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. The business's fifty day moving average is $14.39 and its 200 day moving average is $13.34. Varex Imaging has a 52 week low of $10.19 and a 52 week high of $18.30. The company has a market capitalization of $556.61 million, a PE ratio of -11.54 and a beta of 0.62.

Varex Imaging (NASDAQ:VREX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.79% and a positive return on equity of 3.96%. Research analysts anticipate that Varex Imaging will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC grew its stake in Varex Imaging by 51.4% during the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company's stock worth $46,379,000 after buying an additional 1,321,666 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Varex Imaging during the third quarter worth about $19,801,000. Wealthfront Advisers LLC acquired a new stake in Varex Imaging during the fourth quarter worth about $18,900,000. Geode Capital Management LLC grew its stake in Varex Imaging by 0.5% during the third quarter. Geode Capital Management LLC now owns 929,004 shares of the company's stock worth $11,076,000 after buying an additional 4,211 shares in the last quarter. Finally, Royce & Associates LP grew its stake in Varex Imaging by 70.4% during the fourth quarter. Royce & Associates LP now owns 746,770 shares of the company's stock worth $10,895,000 after buying an additional 308,629 shares in the last quarter.

Varex Imaging Company Profile

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.