Varex Imaging (NASDAQ:VREX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Varex Imaging (NASDAQ:VREX) from a hold rating to a buy rating in a report released on Wednesday morning.

Separately, B. Riley initiated coverage on shares of Varex Imaging in a research report on Friday, August 23rd. They issued a “buy” rating and a $21.00 target price for the company.

Varex Imaging Price Performance

NASDAQ:VREX opened at $16.53 on Wednesday. Varex Imaging has a one year low of $10.19 and a one year high of $21.50. The company has a market cap of $679.38 million, a P/E ratio of -14.13 and a beta of 0.53. The firm’s fifty day moving average price is $13.01 and its two-hundred day moving average price is $13.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.32 and a quick ratio of 1.97.

Institutional Investors Weigh In On Varex Imaging

A number of institutional investors have recently modified their holdings of VREX. Wellington Management Group LLP bought a new stake in shares of Varex Imaging in the third quarter valued at about $19,801,000. Pzena Investment Management LLC lifted its position in Varex Imaging by 51.4% during the third quarter. Pzena Investment Management LLC now owns 3,890,879 shares of the company’s stock worth $46,379,000 after purchasing an additional 1,321,666 shares during the period. Jane Street Group LLC lifted its position in Varex Imaging by 230.6% during the third quarter. Jane Street Group LLC now owns 551,157 shares of the company’s stock worth $6,570,000 after purchasing an additional 384,448 shares during the period. Weiss Asset Management LP bought a new stake in Varex Imaging during the third quarter worth about $2,593,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Varex Imaging during the third quarter worth about $2,411,000.

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.