$187.55 Million in Sales Expected for Varex Imaging Corp (NASDAQ:VREX) This Quarter

Brokerages expect Varex Imaging Corp (NASDAQ:VREX) to report sales of $187.55 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Varex Imaging’s earnings, with the highest sales estimate coming in at $192.20 million and the lowest estimate coming in at $182.10 million. Varex Imaging reported sales of $191.20 million in the same quarter last year, which suggests a negative year over year growth rate of 1.9%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, August 6th.

On average, analysts expect that Varex Imaging will report full-year sales of $774.25 million for the current year, with estimates ranging from $770.00 million to $777.60 million. For the next fiscal year, analysts forecast that the business will post sales of $796.41 million, with estimates ranging from $780.70 million to $814.24 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Varex Imaging.

Varex Imaging (NASDAQ:VREX) last issued its earnings results on Tuesday, May 7th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $194.76 million. Varex Imaging had a return on equity of 10.93% and a net margin of 1.65%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share.

A number of equities research analysts have commented on the company. CJS Securities raised Varex Imaging from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 11th. Zacks Investment Research cut Varex Imaging from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Finally, Northland Securities reissued a “buy” rating and issued a $42.00 price objective on shares of Varex Imaging in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $34.60.

Varex Imaging stock traded down $0.62 during mid-day trading on Friday, reaching $30.77. The stock had a trading volume of 1,217 shares, compared to its average volume of 162,214. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.13. Varex Imaging has a fifty-two week low of $21.57 and a fifty-two week high of $38.83. The company has a 50-day simple moving average of $30.44. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.38 and a beta of 1.79.

In related news, insider Kevin Bruce Yankton sold 1,149 shares of Varex Imaging stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $31.00, for a total transaction of $35,619.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kimberley E. Honeysett sold 916 shares of Varex Imaging stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $30.00, for a total value of $27,480.00. The disclosure for this sale can be found here. Insiders sold 2,905 shares of company stock valued at $87,677 in the last three months. Insiders own 2.40% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in Varex Imaging by 35.5% during the 4th quarter. Advisor Group Inc. now owns 3,725 shares of the company’s stock worth $87,000 after buying an additional 975 shares during the period. Great West Life Assurance Co. Can grew its holdings in shares of Varex Imaging by 7.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 50,896 shares of the company’s stock worth $1,113,000 after purchasing an additional 3,535 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Varex Imaging by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,042,185 shares of the company’s stock worth $24,679,000 after purchasing an additional 193,194 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Varex Imaging by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 434,902 shares of the company’s stock worth $10,298,000 after purchasing an additional 14,835 shares in the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in shares of Varex Imaging during the 4th quarter worth $334,000. 89.03% of the stock is currently owned by institutional investors.

Varex Imaging Company Profile

Varex Imaging Corporation designs and manufactures X-ray imaging components. The company operates in two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components comprising X-ray tubes, digital detectors, high voltage connectors, image-processing software and workstations, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, ionization chambers, and buckys.

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