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

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

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

Varex Imaging Stock Performance

VREX stock traded down $3.13 during midday trading on Friday, reaching $12.07. 1,070,747 shares of the company’s stock traded hands, compared to its average volume of 435,290. The stock’s 50-day moving average is $14.54 and its 200 day moving average is $13.39. The company has a current ratio of 3.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.72. The stock has a market cap of $497.65 million, a P/E ratio of -10.32 and a beta of 0.62. 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 earnings results on Thursday, February 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Varex Imaging had a negative net margin of 5.88% and a positive return on equity of 3.85%. As a group, analysts anticipate that Varex Imaging will post 0.63 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Varex Imaging in the third quarter valued at about $19,801,000. Pzena Investment Management LLC increased its stake in Varex Imaging by 51.4% in the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company’s stock valued at $46,379,000 after purchasing an additional 1,321,666 shares during the last quarter. Jane Street Group LLC increased its stake in Varex Imaging by 230.6% in the third quarter. Jane Street Group LLC now owns 551,157 shares of the company’s stock valued at $6,570,000 after purchasing an additional 384,448 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Varex Imaging by 240.7% in the fourth quarter. Rice Hall James & Associates LLC now owns 328,692 shares of the company’s stock valued at $4,796,000 after acquiring an additional 232,229 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in shares of Varex Imaging in the third quarter valued at approximately $2,593,000.

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.