Varex Imaging (NASDAQ:VREX) Price Target Lowered to $23.00 at Oppenheimer

Varex Imaging (NASDAQ:VREX) had its price objective decreased by equities researchers at Oppenheimer from $30.00 to $23.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 90.37% from the company’s previous close.

Several other brokerages have also recently weighed in on VREX. B. Riley restated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Varex Imaging in a research report on Friday. StockNews.com cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a report on Thursday, January 30th.

Varex Imaging Price Performance

NASDAQ:VREX traded down $3.12 during trading hours on Friday, hitting $12.08. 1,270,110 shares of the stock traded hands, compared to its average volume of 443,430. The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72. Varex Imaging has a 1 year low of $10.19 and a 1 year high of $18.30. The company has a market cap of $498.14 million, a price-to-earnings ratio of -10.42 and a beta of 0.62. The stock has a 50 day moving average price of $14.54 and a 200 day moving average price of $13.39.

Varex Imaging (NASDAQ:VREX) last released its earnings results on Thursday, February 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast that Varex Imaging will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Varex Imaging

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaQuest LLC increased its holdings in Varex Imaging by 1,124.8% in the 4th quarter. AlphaQuest LLC now owns 41,888 shares of the company’s stock worth $611,000 after buying an additional 38,468 shares during the period. Inceptionr LLC purchased a new position in shares of Varex Imaging during the 4th quarter valued at approximately $168,000. Aigen Investment Management LP purchased a new position in Varex Imaging in the 4th quarter valued at $147,000. Proficio Capital Partners LLC purchased a new position in Varex Imaging in the 4th quarter valued at $426,000. Finally, US Bancorp DE lifted its holdings in Varex Imaging by 149.8% in the 4th quarter. US Bancorp DE now owns 7,386 shares of the company’s stock valued at $108,000 after purchasing an additional 4,429 shares in the last quarter.

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.