Wall Street brokerages forecast that Varex Imaging Corp (NASDAQ:VREX) will announce earnings of $0.46 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Varex Imaging’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.49. Varex Imaging reported earnings per share of $0.29 in the same quarter last year, which would suggest a positive year over year growth rate of 58.6%. The business is expected to issue its next earnings report on Tuesday, November 12th.
On average, analysts expect that Varex Imaging will report full-year earnings of $1.30 per share for the current fiscal year, with EPS estimates ranging from $1.27 to $1.33. For the next year, analysts expect that the company will post earnings of $1.44 per share, with EPS estimates ranging from $1.31 to $1.57. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Varex Imaging.
Varex Imaging (NASDAQ:VREX) last announced its earnings results on Tuesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.07). The firm had revenue of $196.70 million during the quarter, compared to analyst estimates of $189.42 million. Varex Imaging had a net margin of 0.97% and a return on equity of 10.01%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share.
In other Varex Imaging news, insider Kevin Bruce Yankton sold 1,149 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kimberley E. Honeysett sold 916 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was 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. Over the last three months, insiders sold 2,333 shares of company stock valued at $71,289. Insiders own 2.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VREX. Morgan Stanley lifted its position in Varex Imaging by 2,325.1% during the 2nd quarter. Morgan Stanley now owns 812,201 shares of the company’s stock worth $24,893,000 after acquiring an additional 778,710 shares during the period. Norges Bank acquired a new stake in Varex Imaging during the 4th quarter worth approximately $15,042,000. JPMorgan Chase & Co. lifted its position in Varex Imaging by 1,684.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 605,954 shares of the company’s stock worth $18,185,000 after acquiring an additional 572,003 shares during the period. Emerald Advisers LLC acquired a new stake in Varex Imaging during the 1st quarter worth approximately $8,971,000. Finally, Nuveen Asset Management LLC acquired a new stake in Varex Imaging during the 2nd quarter worth approximately $7,821,000. 89.21% of the stock is owned by institutional investors.
Shares of NASDAQ VREX opened at $26.01 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.06 and a beta of 1.80. The company has a quick ratio of 1.04, a current ratio of 2.58 and a debt-to-equity ratio of 0.87. Varex Imaging has a 52-week low of $21.57 and a 52-week high of $35.00. The business has a 50-day moving average price of $29.37 and a 200 day moving average price of $30.72.
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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