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

Varex Imaging (NASDAQ:VREX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

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

Varex Imaging Stock Performance

Shares of VREX stock traded up $0.02 on Wednesday, reaching $16.53. The stock had a trading volume of 323,067 shares, compared to its average volume of 504,999. The company has a quick ratio of 1.97, a current ratio of 3.32 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average is $13.01 and its two-hundred day moving average is $13.50. The firm has a market capitalization of $679.38 million, a price-to-earnings ratio of -14.13 and a beta of 0.53. Varex Imaging has a 12 month low of $10.19 and a 12 month high of $21.50.

Hedge Funds Weigh In On Varex Imaging

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in shares of Varex Imaging during the second quarter valued at $26,000. Canada Pension Plan Investment Board bought a new position in shares of Varex Imaging during the second quarter valued at $38,000. Quest Partners LLC bought a new position in shares of Varex Imaging during the third quarter valued at $41,000. CWM LLC raised its stake in shares of Varex Imaging by 2,384.2% during the third quarter. CWM LLC now owns 9,589 shares of the company’s stock valued at $114,000 after acquiring an additional 9,203 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Varex Imaging by 29.8% during the third quarter. Inspire Advisors LLC now owns 14,149 shares of the company’s stock worth $169,000 after buying an additional 3,245 shares during the period.

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.