Key Points
- Varex Imaging CFO Shubham Maheshwari sold 130,000 shares at an average price of $18.46, generating approximately $2.4 million. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct ownership by 48.15% to 139,972 shares.
- Varex reported quarterly EPS of $0.31, exceeding the $0.21 consensus estimate, while revenue of $210.5 million fell short of expectations. Analysts collectively maintain a “Hold” rating, with a consensus price target of $16.88.
- The stock was trading near its 12-month high at $18.47, with a market capitalization of approximately $777.6 million. Institutional investors, including Pzena Investment Management and BlackRock, established significant new positions during the second quarter.
Varex Imaging (NASDAQ:VREX - Get Free Report) Director Jay Kunkel sold 8,121 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $18.48, for a total transaction of $150,076.08. Following the completion of the sale, the director directly owned 15,329 shares in the company, valued at $283,279.92. This trade represents a 34.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Varex Imaging Stock Up 0.1%
NASDAQ:VREX opened at $18.47 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.38 and a quick ratio of 1.53. The company's fifty day moving average price is $15.11 and its 200-day moving average price is $12.40. Varex Imaging has a 1-year low of $9.09 and a 1-year high of $18.63. The firm has a market capitalization of $777.59 million, a P/E ratio of 35.52 and a beta of 0.96.
Varex Imaging (NASDAQ:VREX - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.10. Varex Imaging had a net margin of 2.55% and a return on equity of 9.19%. The company had revenue of $210.50 million during the quarter, compared to the consensus estimate of $215.50 million. As a group, equities research analysts anticipate that Varex Imaging will post 1.04 EPS for the current year.
Institutional Investors Weigh In On Varex Imaging
Institutional investors have recently modified their holdings of the business. JB Capital Partners LP acquired a new stake in Varex Imaging in the second quarter valued at approximately $3,535,395. Pzena Investment Management LLC purchased a new stake in shares of Varex Imaging in the second quarter valued at approximately $45,312,000. Rice Hall James & Associates LLC acquired a new position in shares of Varex Imaging during the 2nd quarter worth approximately $15,080,000. BlackRock Inc. acquired a new position in shares of Varex Imaging during the 2nd quarter worth approximately $40,624,000. Finally, LSV Asset Management lifted its position in shares of Varex Imaging by 210.7% during the 4th quarter. LSV Asset Management now owns 1,244,329 shares of the company's stock valued at $14,496,000 after buying an additional 843,805 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on VREX shares. CJS Securities downgraded Varex Imaging from an "outperform" rating to a "market perform" rating in a research note on Monday, August 17th. Wall Street Zen upgraded Varex Imaging from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Sidoti restated a "neutral" rating and issued a $19.00 price objective on shares of Varex Imaging in a research report on Monday, August 10th. Oppenheimer cut shares of Varex Imaging from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Varex Imaging from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 26th. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $16.88.
View Our Latest Stock Analysis on VREX
Varex Imaging Company Profile
(
Get Free Report)
Varex Imaging Corporation (NASDAQ: VREX) develops and manufactures X-ray imaging components used by medical, industrial and security equipment manufacturers. Its products are incorporated into systems that support diagnostic imaging, radiation therapy, inspection and threat detection.
The company's portfolio includes X-ray tubes, digital image detectors, high-voltage generators, image-processing software and other imaging subsystems. These products are used in applications such as computed tomography, radiography, fluoroscopy, mammography, dental and veterinary imaging, as well as industrial non-destructive testing and security screening.
Varex Imaging was established as an independent public company in 2017 through a spin-off from Varian Medical Systems.
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