Varex Imaging (NASDAQ:VREX) Given “Buy” Rating at B. Riley

Varex Imaging (NASDAQ:VREX)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a research report issued on Friday,Benzinga reports. They currently have a $22.00 target price on the stock, up from their previous target price of $21.00. B. Riley’s price target points to a potential upside of 82.27% from the stock’s previous close.

Separately, StockNews.com lowered Varex Imaging from a “buy” rating to a “hold” rating in a report on Thursday, January 30th.

Varex Imaging Stock Down 20.6 %

Varex Imaging stock traded down $3.13 during mid-day trading on Friday, hitting $12.07. The company’s stock had a trading volume of 1,070,747 shares, compared to its average volume of 435,290. The firm’s 50 day moving average is $14.54 and its 200 day moving average is $13.39. The company has a market cap of $497.65 million, a PE ratio of -10.32 and a beta of 0.62. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97. Varex Imaging has a 52-week low of $10.19 and a 52-week high of $18.30.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a positive return on equity of 3.85% and a negative net margin of 5.88%. On average, analysts anticipate that Varex Imaging will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Varex Imaging

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its stake in shares of Varex Imaging by 9.2% during the third quarter. Creative Planning now owns 19,644 shares of the company’s stock worth $234,000 after purchasing an additional 1,654 shares during the period. Intech Investment Management LLC grew its stake in shares of Varex Imaging by 13.7% in the third quarter. Intech Investment Management LLC now owns 16,267 shares of the company’s stock valued at $194,000 after buying an additional 1,959 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of Varex Imaging by 29.8% in the 3rd quarter. Inspire Advisors LLC now owns 14,149 shares of the company’s stock valued at $169,000 after purchasing an additional 3,245 shares during the period. Quest Partners LLC bought a new stake in shares of Varex Imaging in the 3rd quarter valued at about $41,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Varex Imaging by 60.7% in the 4th quarter. New York State Common Retirement Fund now owns 9,531 shares of the company’s stock valued at $139,000 after purchasing an additional 3,600 shares during the period.

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.