Varian Medical Systems Inc. (NYSE:VAR) had its price target hoisted by investment analysts at Barrington Research from $93.00 to $102.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the stock. Barrington Research’s target price would indicate a potential upside of 15.25% from the company’s current price.
Other hedge funds and institutional investors recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Varian Medical Systems during the first quarter worth about $104,000. Invictus RG acquired a new stake in Varian Medical Systems during the first quarter valued at approximately $132,000. Citizens Financial Group Inc RI increased its stake in Varian Medical Systems by 67.0% in the first quarter. Citizens Financial Group Inc RI now owns 1,994 shares of the company’s stock valued at $160,000 after buying an additional 800 shares during the period. Atria Investments LLC acquired a new stake in Varian Medical Systems during the second quarter valued at approximately $256,000. Finally, Raymond James Trust N.A. increased its stake in Varian Medical Systems by 10.0% in the second quarter. Raymond James Trust N.A. now owns 3,348 shares of the company’s stock valued at $275,000 after buying an additional 304 shares during the period.
Varian Medical Systems (NYSE:VAR) traded up 6.25% during mid-day trading on Thursday, hitting $94.03. 1,889,843 shares of the stock were exchanged. The company’s 50-day moving average price is $84.13 and its 200 day moving average price is $80.96. The firm has a market capitalization of $8.95 billion and a price-to-earnings ratio of 23.25. Varian Medical Systems has a 52 week low of $71.07 and a 52 week high of $94.33.
In other Varian Medical Systems news, CEO Dow R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $82.08, for a total transaction of $820,800.00. Following the transaction, the chief executive officer now owns 70,598 shares in the company, valued at approximately $5,794,683.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy E. Guertin sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $81.55, for a total transaction of $326,200.00. The disclosure for this sale can be found here.
Other research analysts have also issued research reports about the stock. Brean Capital boosted their price objective on shares of Varian Medical Systems to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Jefferies Group boosted their price objective on shares of Varian Medical Systems from $95.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Wednesday, April 13th. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Finally, Citigroup Inc. boosted their price objective on shares of Varian Medical Systems from $84.00 to $88.00 and gave the stock a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Varian Medical Systems currently has a consensus rating of “Hold” and an average target price of $89.10.
Varian Medical Systems Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.
