Market Analysts see Varex Imaging Corporation [VREX] falling to $25. Time to buy?

Varex Imaging Corporation [NASDAQ: VREX] surged by $0.22 during the normal trading session on Monday and reaching a high of $16.745 during the day while it closed the day at $16.60. The company report on July 30, 2020 that Varex Schedules Third Quarter Fiscal Year 2020 Earnings Release and Conference Call.

Varex Imaging Corporation (Nasdaq: VREX) today announced that it will report unaudited financial results for the third quarter of fiscal year 2020 following the close of regular trading on Wednesday, August 12, 2020. The earnings news release will be followed by a conference call at 3:00 pm Mountain Time that day.

This call will be webcast live and can be accessed at the company’s website at investors.vareximaging.com. Investors can also access this conference call at 1-877-524-8416 from anywhere in the U.S. or 1-412-902-1028 from non-U.S. locations. The webcast of this call will be archived on the company’s website and a replay of the call will be available from August 12th through August 26th at 1-877-660-6853 from anywhere in the U.S. or 1-201-612-7415 from non-U.S. locations. The replay conference call access code is 13707029.

Varex Imaging Corporation stock has also gained 3.88% of its value over the past 7 days. However, VREX stock has declined by -36.42% in the 3 months of the year. Over the past six months meanwhile, it has lost -39.28% and lost -44.31% year-on date.

The market cap for VREX stock reached $639.10 million, with 39.10 million shares outstanding and 38.90 million shares in the current float. Compared to the average trading volume of 676.15K shares, VREX reached a trading volume of 1009806 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Varex Imaging Corporation [VREX]:

JP Morgan have made an estimate for Varex Imaging Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 13, 2020. The new note on the price target was released on March 25, 2020, representing the official price target for Varex Imaging Corporation stock. Previously, the target price had yet another raise to $30, while Jefferies analysts kept a Hold rating on VREX stock.

The Average True Range (ATR) for Varex Imaging Corporation is set at 0.54, with the Price to Sales ratio for VREX stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.63. Price to Free Cash Flow for VREX in the course of the last twelve months was 17.51 with Quick ratio for the last quarter at 0.90.

VREX stock trade performance evaluation

Varex Imaging Corporation [VREX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.88. With this latest performance, VREX shares gained by 10.81% in over the last four-week period, additionally sinking by -39.28% over the last 6 months – not to mention a drop of -36.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VREX stock in for the last two-week period is set at 57.22, with the RSI for the last a single of trading hit 59.83, and the three-weeks RSI is set at 51.37 for Varex Imaging Corporation [VREX]. The present Moving Average for the last 50 days of trading for this stock 16.08, while it was recorded at 16.40 for the last single week of trading, and 23.70 for the last 200 days.

Varex Imaging Corporation [VREX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Varex Imaging Corporation [VREX] shares currently have an operating margin of +8.28 and a Gross Margin at +35.51. Varex Imaging Corporation’s Net Margin is presently recorded at +1.99.

Return on Total Capital for VREX is now 7.68, given the latest momentum, and Return on Invested Capital for the company is 1.94. Return on Equity for this stock inclined to 3.56, with Return on Assets sitting at 1.53. When it comes to the capital structure of this company, Varex Imaging Corporation [VREX] has a Total Debt to Total Equity ratio set at 88.81. Additionally, VREX Total Debt to Total Capital is recorded at 47.04, with Total Debt to Total Assets ending up at 38.03. Long-Term Debt to Equity for the company is recorded at 81.91, with the Long-Term Debt to Total Capital now at 43.38.

Reflecting on the efficiency of the workforce at the company, Varex Imaging Corporation [VREX] managed to generate an average of $7,750 per employee. Receivables Turnover for the company is 5.29 with a Total Asset Turnover recorded at a value of 0.77.Varex Imaging Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Varex Imaging Corporation [VREX] stock

With the latest financial reports released by the company, Varex Imaging Corporation posted 0.24/share EPS, while the average EPS was predicted by analysts to be reported at 0.34/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -29.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VREX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Varex Imaging Corporation go to 5.00%.

Varex Imaging Corporation [VREX]: Insider Ownership positions

There are presently around $593 million, or 96.43% of VREX stock, in the hands of institutional investors. The top three institutional holders of VREX stocks are: BLACKROCK INC. with ownership of 5,871,215, which is approximately -1.755% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 4,155,116 shares of the stock with an approximate value of $68.97 million in VREX stocks shares; and PZENA INVESTMENT MANAGEMENT LLC, currently with $25.9 million in VREX stock with ownership of nearly 18.655% of the company’s market capitalization.

Positions in Varex Imaging Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 88 institutional holders increased their position in Varex Imaging Corporation [NASDAQ:VREX] by around 3,024,781 shares. Additionally, 108 investors decreased positions by around 3,355,411 shares, while 51 investors held positions by with 29,318,876 shares. The mentioned changes placed institutional holdings at 35,699,068 shares, according to the latest SEC report filing. VREX stock had 26 new institutional investments in for a total of 646,302 shares, while 43 institutional investors sold positions of 1,311,380 shares during the same period.

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