Varex Imaging (NASDAQ:VREX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Varex Imaging (NASDAQ:VREX - Free Report) from a hold rating to a buy rating in a research note released on Friday.

Several other research analysts have also weighed in on VREX. B. Riley reaffirmed a "buy" rating and set a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a research report on Friday. Oppenheimer lowered their price target on Varex Imaging from $30.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday.

Varex Imaging Trading Up 2.9 %

Varex Imaging stock traded up $0.38 during mid-day trading on Friday, hitting $13.34. The stock had a trading volume of 417,325 shares, compared to its average volume of 495,475. The stock has a 50-day simple moving average of $14.39 and a two-hundred day simple moving average of $13.34. The stock has a market capitalization of $549.80 million, a PE ratio of -11.42 and a beta of 0.62. Varex Imaging has a 12 month low of $10.19 and a 12 month high of $18.30. The company has a current ratio of 3.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.72.

Varex Imaging (NASDAQ:VREX - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. Varex Imaging had a positive return on equity of 3.96% and a negative net margin of 5.79%. As a group, sell-side analysts forecast that Varex Imaging will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Varex Imaging during the 3rd quarter worth $41,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Varex Imaging during the 4th quarter worth $98,000. US Bancorp DE lifted its position in shares of Varex Imaging by 149.8% during the 4th quarter. US Bancorp DE now owns 7,386 shares of the company's stock worth $108,000 after buying an additional 4,429 shares during the last quarter. CWM LLC lifted its position in shares of Varex Imaging by 2,384.2% during the 3rd quarter. CWM LLC now owns 9,589 shares of the company's stock worth $114,000 after buying an additional 9,203 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Varex Imaging by 60.7% during the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company's stock worth $139,000 after buying an additional 3,600 shares during the last quarter.

About Varex Imaging

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.