VAREX IMAGING (VREX) shares soared 16.5% in the last trading session to close at $8.69. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 41.8% loss over the past four weeks.

The upside can be attributed to relief-rally across global markets following the announcement of a 90-day pause on tariff hike by the United States.

This company is expected to post quarterly earnings of $0.14 per share in its upcoming report, which represents a year-over-year change of -12.5%. Revenues are expected to be $206.83 million, up 0.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For VAREX IMAGING, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VREX going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

VAREX IMAGING is part of the Zacks Medical - Products industry. TriSalus Life Sciences, Inc. (TLSI), another stock in the same industry, closed the last trading session 0.2% higher at $5.50. TLSI has returned 7.9% in the past month.

For TriSalus Life Sciences, Inc. , the consensus EPS estimate for the upcoming report has changed -2% over the past month to -$0.20. This represents a change of +63% from what the company reported a year ago. TriSalus Life Sciences, Inc. currently has a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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