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 comprising X-ray tubes, digital flat panel image detectors, high voltage connectors, ionization chambers, and buckys among others. The Industrial segment designs, manufactures, sells, and services Linatron X-ray accelerators, X-ray tubes, digital flat panel detectors and high voltage connectors among others. It has manufacturing, research, and development operation in the United States, Europe, Philippines and China, and sales and service operations throughout the world.

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

As of May 14, 2024, VREX stock price declined to $15.42 with 196,916 million shares trading.

VREX has a beta of 0.96, meaning it tends to be less sensitive to market movements. VREX has a correlation of 0.19 to the broad based SPY ETF.

VREX has a market cap of $624.51 million. This is considered a Small Cap stock.

Last quarter Varex Imaging reported $206 million in Revenue and $.16 earnings per share. This beat revenue expectation by $1 million and missed earnings estimates by -$.05.

In the last 3 years, VREX stock traded as high as $32.65 and as low as $14.56.

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

VREX has underperformed the market in the last year with a price return of -30.6% while the SPY ETF gained +28.8%. VREX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -10.6% and -5.1%, respectively, while the SPY returned +5.3% and +4.2%, respectively.

VREX support price is $15.17 and resistance is $15.85 (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 stock will trade within this expected range on the day.