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Varex Imaging ( (VREX) ) has provided an update.
On March 13, 2026, Varex Imaging Corporation and certain subsidiaries entered a new $490 million secured credit facility maturing in 2031, comprising a $350 million term loan, a $100 million revolving credit line and a $40 million delayed draw term loan. Borrowings are priced off SOFR plus a leverage-based margin, and Varex has hedged the SOFR component to a fixed 3.65%, while standard covenants, guarantees and default provisions govern the facility.
On March 13, 2026, Varex drew $350 million from the term loan and, together with about $42 million of cash, funded the redemption of its $368 million 7.875% Senior Secured Notes due 2027, with the notes redeemed on March 16, 2026. Concurrently, the company discharged the 2027 notes indenture, terminated its prior $155 million revolving credit facility and reduced net debt by roughly $18 million, moves that are expected to lower annual cash interest expense by more than $7 million and improve financial flexibility for ongoing investment and shareholder returns.
The most recent analyst rating on (VREX) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Varex Imaging stock, see the VREX Stock Forecast page.
Spark’s Take on VREX Stock
According to Spark, TipRanks’ AI Analyst, VREX is a Neutral.
The score is weighed down primarily by weakened financial performance—losses, negative returns, and negative TTM free cash flow—despite strong revenue growth. Technicals are moderately supportive (price above key longer-term averages), while valuation is constrained by a negative P/E and no dividend support. The latest earnings call was constructive on non-GAAP profitability and guidance, but inventory, cash flow, and refinancing risks temper the outlook.
To see Spark’s full report on VREX stock, click here.
More about Varex Imaging
Varex Imaging Corporation is a Salt Lake City-based innovator, designer and manufacturer of X-ray imaging components, including X-ray tubes, digital detectors and image processing solutions used in medical, industrial and security imaging systems. The company’s products are sold globally to OEM manufacturers, and it employs about 2,400 people across North America, Europe and Asia.
Varex also produces X-ray imaging systems for industrial applications, supplying X-ray sources, digital detectors, connecting devices and imaging software that are integrated into customer systems to detect, diagnose, protect and inspect. The company has a history of more than 70 years in X-ray technology innovation and serves a broad international market for advanced imaging components.
Average Trading Volume: 342,544
Technical Sentiment Signal: Sell
Current Market Cap: $452.9M
Learn more about VREX stock on TipRanks’ Stock Analysis page.