Shares of Varex Imaging Co. (NASDAQ:VREX – Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $16.66 and last traded at $16.66, with a volume of 116742 shares changing hands. The stock had previously closed at $17.18.
Analysts Set New Price Targets
Separately, TheStreet cut Varex Imaging from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th.
Check Out Our Latest Report on VREX
Varex Imaging Stock Performance
Varex Imaging (NASDAQ:VREX – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.05). Varex Imaging had a return on equity of 9.21% and a net margin of 5.08%. The firm had revenue of $190.00 million for the quarter, compared to analyst estimates of $187.97 million. During the same quarter last year, the firm earned $0.08 EPS. The company’s revenue was down 7.6% on a year-over-year basis. On average, analysts forecast that Varex Imaging Co. will post 0.99 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC grew its position in shares of Varex Imaging by 100.8% in the 1st quarter. Ancora Advisors LLC now owns 1,265 shares of the company’s stock valued at $26,000 after buying an additional 635 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Varex Imaging during the fourth quarter worth about $30,000. Federated Hermes Inc. lifted its holdings in shares of Varex Imaging by 216.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock valued at $33,000 after purchasing an additional 1,218 shares during the last quarter. Quarry LP boosted its position in shares of Varex Imaging by 70.1% in the 1st quarter. Quarry LP now owns 2,305 shares of the company’s stock valued at $42,000 after purchasing an additional 950 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Varex Imaging in the 1st quarter valued at about $46,000.
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.
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