VREX · NASDAQ · STOCK
Varex Imaging (VREX) Stock Analysis
$18.46
52W $9.09 – $18.63
61/100
$777.17M
35.2
0.97
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is VREX Bullish or Bearish?
Bullish.
Innellis AI committee rates Varex Imaging Corporation (VREX) Buy with a composite score of 61/100
, based on 6 analysts with 67% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +14.25 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -5.75 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Risk Analyst sees a compelling case. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- Price-to-book of 1.1x is a discount to asset value — Value
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Price structure making higher highs and higher lows — Technical
- Weekly trend (uptrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- P/E of 35.5 is moderate-to-rich — Value
- ROE of only 4.6% -- cheap may mean cheap for a reason — Value
- MACD histogram negative -- bearish momentum — Technical
- Price structure (LH_LL) contradicts the uptrend -- mixed signals — Technical
- Weekly RSI at 87 -- overbought on the larger timeframe too — Technical
- No news coverage in the last 14 days -- limited independent confirmation either way — News
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
61/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 30%
of 192 Healthcare peers
Value Analyst
neutral
50
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ Price-to-book of 1.1x is a discount to asset value
− P/E of 35.5 is moderate-to-rich
Growth Analyst
bullish
62
/ 100 · Moderate confidence
Strong, accelerating growth with consistent execution
+ Quarter-over-quarter growth rate is ACCELERATING, not just positive
Technical Analyst
neutral
57
/ 100 · High confidence
Mixed or range-bound price action
+ Price structure making higher highs and higher lows
− MACD histogram negative -- bearish momentum
Risk Analyst
bullish
70
/ 100 · Low confidence
Risk profile is manageable -- leverage, volatility, and event exposure all look contained
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
60
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
− No news coverage in the last 14 days -- limited independent confirmation either way
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 60.8 to 60.8.
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
52.2
Neutral
MACD Histogram
-0.105
Bearish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Lh Ll
Support
$10.80
Resistance
$18.63
Bollinger %B
0.35
Inside Bands
Price vs Moving Averages
EMA 9
$18.46
Below
EMA 21
$18.36
Above
EMA 50
$17.20
Above
EMA 200
$13.80
Above
Fundamental Analysis
Valuation
73
Growth
85
Profitability
12
Financial Health
94
Cash Flow
15
Valuation
P/E Ratio
35.2×
P/B Ratio
1.56×
PEG Ratio
0.21
Dividend Yield
0.00%
52W High
$18.63
52W Low
$9.09
Quality & Growth
ROE
-1487.5%
ROA
-634.8%
Gross Margin
3432.4%
Operating Margin
834.7%
Revenue Growth YoY
—
Debt / Equity
0.75
AI Fundamental Assessment
P/E ratio of 35.2 (rich relative to a 15-40x range); Price-to-book of 1.6x; PEG ratio of 0.2 (under 1.0 suggests growth is undervalued relative to price); Return on equity of -14.9%; Return on assets of -6.3%; Net margin of 2.6%; Gross margin of 34.3%; Current ratio of 3.38 (healthy short-term liquidity); Debt-to-equity of 0.75; Free cash flow per share is negative (-0.48); Most recent quarter beat estimates by 44.9%; EPS growth accelerating (+10.5% -> +47.6% QoQ); Analyst estimates rising over recent quarters
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