Varex Imaging (VREX)

• Market cap: $347M
• 1 day: -1.06%
• 5 days: 10.80%
• 1 month: -27.50%
• 3 months: -38.16%
• 6 months: -36.81%
• Year to date: -41.64%
• 1 year: -50.27%
• 5 years: -68.22%
• 10 years: -69.16%
• Sector: Healthcare
• Industry: Medical Devices

About: Varex Imaging Corp designs and manufactures X-ray imaging components. It operates in two segments Medical and Industrial. The Medical segment, which is the key revenue driver, designs, manufactures, sells, and services X-ray imaging components, including X-ray tubes, digital detectors and accessories, generators, and heat exchangers among other products. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors, high-voltage connectors, and coolers. Geographically, the company generates maximum revenue from Europe, Middle East, and Africa (EMEA) and the rest from the Americas and Asia Pacific region.

Employees: 2,300

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

23% more capital invested

Capital invested by funds: $462M [Q3] → $566M (+$104M) [Q4]

10% more repeat investments, than reductions

Existing positions increased: 69 | Existing positions reduced: 63

7% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 30

1% more funds holding

Funds holding: 194 [Q3] → 195 (+1) [Q4]

0.56% less ownership

Funds ownership: 94.8% [Q3] → 94.23% (-0.56%) [Q4]

96% less call options, than puts

Call options by funds: $184K | Put options by funds: $4.82M

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $22 162% upside
• Avg. target: $23 168% upside
• High target: $23 173% upside

2 analyst ratings

• positive: 2 100%
• neutral: 0 0%
• negative: 0 0%

Oppenheimer Suraj Kalia 42% 1-year accuracy 8 / 19 met price target	173% upside $23	Outperform Maintained	7 Feb 2025
B. Riley Securities Kyle Bauser 0% 1-year accuracy 0 / 4 met price target	162% upside $22	Buy Reiterated	7 Feb 2025