Varex Imaging Corp (NASDAQ: VREX)’s stock price has soared by 9.27 in relation to previous closing price of 10.79. Nevertheless, the company has seen a gain of 2.25% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-03 that Varex Imaging Corporation (NASDAQ:VREX ) Q3 2024 Results Conference Call August 1, 2024 5:00 PM ET Company Participants Christopher Belfiore – Director of Investor Relations Sunny Sanyal – President and Chief Executive Officer Sam Maheshwari – Chief Financial Officer Conference Call Participants Young Li – Jefferies Jim Sidoti – Sidoti & Company Young Li – Jefferies Operator Greetings. Welcome to the Varex Imaging Third Quarter Fiscal Year ’24 Earnings Call.
Is It Worth Investing in Varex Imaging Corp (NASDAQ: VREX) Right Now?
Varex Imaging Corp (NASDAQ: VREX) has a price-to-earnings ratio of 17.15x that is above its average ratio. Additionally, the 36-month beta value for VREX is 0.56. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 1 rating it as “sell.”
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The public float for VREX is 40.40M and currently, short sellers hold a 7.40% ratio of that float. The average trading volume of VREX on September 24, 2024 was 737.41K shares.
VREX’s Market Performance
VREX’s stock has seen a 2.25% increase for the week, with a 1.99% rise in the past month and a -18.18% fall in the past quarter. The volatility ratio for the week is 7.11%, and the volatility levels for the past 30 days are at 5.29% for Varex Imaging Corp The simple moving average for the past 20 days is 1.42% for VREX’s stock, with a -27.17% simple moving average for the past 200 days.
Analysts’ Opinion of VREX
Many brokerage firms have already submitted their reports for VREX stocks, with B. Riley Securities repeating the rating for VREX by listing it as a “Buy.” The predicted price for VREX in the upcoming period, according to B. Riley Securities is $21 based on the research report published on August 23, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see VREX reach a price target of $24. The rating they have provided for VREX stocks is “Hold” according to the report published on October 12th, 2022.
Oppenheimer gave a rating of “Outperform” to VREX, setting the target price at $41 in the report published on February 05th of the previous year.
VREX Trading at -6.46% from the 50-Day Moving Average
After a stumble in the market that brought VREX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -45.16% of loss for the given period.
Volatility was left at 5.29%, however, over the last 30 days, the volatility rate increased by 7.11%, as shares sank -5.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.97% lower at present.
During the last 5 trading sessions, VREX rose by +2.25%, which changed the moving average for the period of 200-days by -37.52% in comparison to the 20-day moving average, which settled at $11.59. In addition, Varex Imaging Corp saw -42.49% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at VREX starting from Honeysett Kimberley E., who sale 2,578 shares at the price of $12.53 back on Aug 20 ’24. After this action, Honeysett Kimberley E. now owns 275 shares of Varex Imaging Corp, valued at $32,302 using the latest closing price.
Honeysett Kimberley E., the Officer of Varex Imaging Corp, proposed sale 2,578 shares at $12.53 during a trade that took place back on Aug 20 ’24, which means that Honeysett Kimberley E. is holding shares at $32,302 based on the most recent closing price.
Stock Fundamentals for VREX
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.32 for the gross margin
The net margin for Varex Imaging Corp stands at 0.04. The total capital return value is set at 0.04. Equity return is now at value 6.15, with 2.78 for asset returns.
Based on Varex Imaging Corp (VREX), the company’s capital structure generated 0.43 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 0.77. The interest coverage ratio of the stock is 1.68.
Currently, EBITDA for the company is 60.6 million with net debt to EBITDA at 5.64. When we switch over and look at the enterprise to sales, we see a ratio of 0.96. The receivables turnover for the company is 5.45for trailing twelve months and the total asset turnover is 0.66. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.34.
Conclusion
In conclusion, Varex Imaging Corp (VREX) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
