Varex Imaging Co. (NASDAQ:VREX – Get Free Report)’s share price reached a new 52-week low on Monday . The company traded as low as $14.09 and last traded at $14.29, with a volume of 423662 shares trading hands. The stock had previously closed at $14.73.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Varex Imaging from a “buy” rating to a “hold” rating in a research note on Monday, May 6th.
Read Our Latest Research Report on Varex Imaging
Varex Imaging Stock Performance
Varex Imaging (NASDAQ:VREX – Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). Varex Imaging had a return on equity of 8.26% and a net margin of 4.90%. The firm had revenue of $206.20 million for the quarter, compared to analyst estimates of $205.15 million. During the same quarter last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, analysts anticipate that Varex Imaging Co. will post 0.65 earnings per share for the current year.
Institutional Trading of Varex Imaging
A number of hedge funds and other institutional investors have recently made changes to their positions in VREX. First Hawaiian Bank boosted its holdings in Varex Imaging by 32.9% in the 2nd quarter. First Hawaiian Bank now owns 31,049 shares of the company’s stock valued at $457,000 after purchasing an additional 7,686 shares in the last quarter. Pacific Center for Financial Services purchased a new stake in Varex Imaging in the 1st quarter valued at approximately $94,000. Comerica Bank boosted its holdings in Varex Imaging by 98.1% in the 1st quarter. Comerica Bank now owns 37,586 shares of the company’s stock valued at $680,000 after purchasing an additional 18,615 shares in the last quarter. Hancock Whitney Corp purchased a new stake in Varex Imaging in the 1st quarter valued at approximately $296,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Varex Imaging in the 1st quarter valued at approximately $207,000.
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.
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