VREX Stock Summary and Trading Ideas (Varex Imaging | NASDAQ:VREX)

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.

Varex Imaging trades on the NASDAQ stock market under the symbol VREX.

As of December 13, 2024, VREX stock price declined to $15.44 with 281,275 million shares trading.

VREX has a beta of 1.24, meaning it tends to be more sensitive to market movements. VREX has a correlation of 0.13 to the broad based SPY ETF.

VREX has a market cap of $634.58 million. This is considered a Small Cap stock.

Last quarter Varex Imaging reported $206 million in Revenue and $.19 earnings per share. This beat revenue expectation by $5 million and exceeded earnings estimates by $.10.

In the last 3 years, VREX traded as high as $32.65 and as low as $10.19.

The top ETF exchange traded funds that VREX belongs to (by Net Assets): IWM, VTI, VXF, KOMP, VB.

VREX has underperformed the market in the last year with a price return of -25.9% while the SPY ETF gained +29.9%. However, in the short term, VREX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +30.6% vs +7.8% return in SPY. But in the last 2 weeks, VREX shares have been beat by the market, returning -7.4% compared to an SPY return of +0.3%.

VREX support price is $15.04 and resistance is $16.00 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that VREX shares will trade within this expected range on the day.