Varex Imaging (VREX)

• Market cap: $521M
• 1 day: -1.63%
• 5 days: -8.34%
• 1 month: -9.13%
• 3 months: -23.44%
• 6 months: 3.52%
• Year to date: -12.28%
• 1 year: -24.67%
• 5 years: -49.64%
• 10 years: -53.65%
• Sector: Information Technology
• Industry: Electronic Components

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 filings by fund managers ($100M+ AUM)

22% more capital invested

Capital invested by funds: $464M [Q3] → $566M (+$102M) [Q4]

2.07% more ownership

Funds ownership: 95.09% [Q3] → 97.17% (+2.07%) [Q4]

5% more repeat investments, than reductions

Existing positions increased: 67 | Existing positions reduced: 64

0% more first-time investments, than exits

New positions opened: 31 | Existing positions closed: 31

2% less funds holding

Funds holding: 195 [Q3] → 191 (-4) [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 74% upside
• Avg. target: $23 78% upside
• High target: $23 82% upside

2 analyst ratings

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

Oppenheimer Suraj Kalia 67% 1-year accuracy 16 / 24 met price target	82% upside $23	Outperform Maintained	7 Feb 2025
B. Riley Securities Kyle Bauser 75% 1-year accuracy 3 / 4 met price target	74% upside $22	Buy Reiterated	7 Feb 2025