Varex Imaging (VREX) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Varex Imaging (NASDAQ:VREX) from an underweight rating to a neutral rating in a report published on Wednesday, December 20th, Marketbeat.com reports.

Several other research firms have also recently issued reports on VREX. Jefferies Group boosted their target price on Varex Imaging to $39.00 and gave the company a buy rating in a research note on Friday, November 10th. Zacks Investment Research upgraded Varex Imaging from a strong sell rating to a hold rating in a research report on Thursday, October 5th.

Shares of Varex Imaging (NASDAQ VREX) traded up $0.29 during trading on Wednesday, reaching $40.62. The company’s stock had a trading volume of 119,859 shares, compared to its average volume of 141,707. The company has a quick ratio of 1.72, a current ratio of 3.26 and a debt-to-equity ratio of 1.22. The stock has a market cap of $1,550.00 and a PE ratio of 29.87. Varex Imaging has a 1-year low of $25.00 and a 1-year high of $41.99.

Varex Imaging (NASDAQ:VREX) last posted its earnings results on Thursday, November 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The business had revenue of $216.00 million for the quarter, compared to analysts’ expectations of $213.73 million. Varex Imaging’s revenue was up 25.5% compared to the same quarter last year. sell-side analysts forecast that Varex Imaging will post 1.92 earnings per share for the current year.

In other Varex Imaging news, insider Sunny Sanyal sold 50,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $36.50, for a total value of $1,825,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Varex Imaging during the second quarter valued at $112,000. Howard Hughes Medical Institute bought a new position in shares of Varex Imaging during the second quarter valued at $134,000. Oppenheimer Asset Management Inc. bought a new position in shares of Varex Imaging during the second quarter valued at $136,000. Pinebridge Investments L.P. bought a new position in shares of Varex Imaging during the second quarter valued at $167,000. Finally, Tufton Capital Management bought a new position in shares of Varex Imaging during the third quarter valued at $201,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

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Varex Imaging Company Profile

Varex Imaging Corporation is a supplier of medical X-ray tubes and image processing solutions. The Company’s segments include Medical and Industrial. The X-ray imaging system manufacturers use the Company’s components for medical imaging, cargo screening and border security, to detect, diagnose and protect.

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