Varex Imaging (NASDAQ:VREX) Hits New 12-Month Low at $14.09

Shares of Varex Imaging Co. (NASDAQ:VREX) reached a new 52-week low on Monday . The stock traded as low as $14.09 and last traded at $14.29, with a volume of 423662 shares. The stock had previously closed at $14.73.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Varex Imaging from a “buy” rating to a “hold” rating in a research report on Monday, May 6th.

Varex Imaging Trading Down 3.0 %

The company has a current ratio of 4.23, a quick ratio of 2.37 and a debt-to-equity ratio of 0.75. The firm has a market cap of $584.46 million, a P/E ratio of 16.55, a P/E/G ratio of 3.24 and a beta of 0.59. The stock has a 50 day simple moving average of $15.49 and a 200-day simple moving average of $17.48.

Varex Imaging (NASDAQ:VREX) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $206.20 million for the quarter, compared to analysts’ expectations of $205.15 million. Varex Imaging had a net margin of 4.90% and a return on equity of 8.26%. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, equities research analysts expect that Varex Imaging Co. will post 0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Varex Imaging

Several hedge funds have recently modified their holdings of VREX. HighTower Advisors LLC lifted its stake in shares of Varex Imaging by 83.3% during the 3rd quarter. HighTower Advisors LLC now owns 18,642 shares of the company’s stock worth $351,000 after purchasing an additional 8,473 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Varex Imaging by 91.6% in the 3rd quarter. Hsbc Holdings PLC now owns 36,878 shares of the company’s stock valued at $690,000 after buying an additional 17,634 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Varex Imaging by 216.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,781 shares of the company’s stock worth $33,000 after buying an additional 1,218 shares during the last quarter. Trexquant Investment LP raised its stake in shares of Varex Imaging by 28.5% during the 3rd quarter. Trexquant Investment LP now owns 75,286 shares of the company’s stock worth $1,415,000 after acquiring an additional 16,700 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Varex Imaging during the third quarter valued at approximately $332,000.

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.