Varian Medical Systems, Inc. (VAR) Price Target Raised to $121.00

Varian Medical Systems, Inc. (NYSE:VAR) had its price target hoisted by Citigroup Inc. from $119.00 to $121.00 in a report published on Monday, October 30th. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Varian Medical Systems from a strong-buy rating to a buy rating in a report on Monday, July 24th. BTIG Research reiterated a hold rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Royal Bank Of Canada reiterated a hold rating and issued a $100.00 price objective on shares of Varian Medical Systems in a research report on Friday, September 1st. Robert W. Baird restated a hold rating and set a $99.00 price target on shares of Varian Medical Systems in a research report on Monday, August 28th. Finally, Zacks Investment Research lowered Varian Medical Systems from a buy rating to a hold rating in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $97.83.

Varian Medical Systems (VAR) traded down $0.14 during midday trading on Monday, reaching $107.55. The company had a trading volume of 682,500 shares, compared to its average volume of 840,943. Varian Medical Systems has a 12 month low of $76.94 and a 12 month high of $108.78. The firm has a market cap of $9,873.20, a PE ratio of 28.53, a price-to-earnings-growth ratio of 3.16 and a beta of 0.65. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.18.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The firm had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. During the same period in the previous year, the company earned $1.03 EPS. Varian Medical Systems’s revenue was down 1.1% compared to the same quarter last year. equities analysts anticipate that Varian Medical Systems will post 4.26 EPS for the current fiscal year.

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In other news, EVP Kolleen T. Kennedy sold 931 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $105.00, for a total transaction of $97,755.00. Following the sale, the executive vice president now owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $105.41, for a total value of $1,587,369.19. Following the sale, the insider now directly owns 81,835 shares in the company, valued at approximately $8,626,227.35. The disclosure for this sale can be found here. Insiders sold a total of 41,828 shares of company stock worth $4,337,416 in the last ninety days. 0.91% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VAR. BNP Paribas Arbitrage SA grew its stake in shares of Varian Medical Systems by 32.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 102,502 shares of the medical equipment provider’s stock valued at $10,577,000 after buying an additional 25,152 shares during the period. BB&T Securities LLC boosted its position in Varian Medical Systems by 50.7% during the 2nd quarter. BB&T Securities LLC now owns 7,771 shares of the medical equipment provider’s stock worth $801,000 after purchasing an additional 2,616 shares during the period. GHP Investment Advisors Inc. boosted its position in Varian Medical Systems by 5.2% during the 2nd quarter. GHP Investment Advisors Inc. now owns 15,090 shares of the medical equipment provider’s stock worth $1,557,000 after purchasing an additional 740 shares during the period. Fiera Capital Corp boosted its position in Varian Medical Systems by 12.0% during the 2nd quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after purchasing an additional 269,633 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Varian Medical Systems by 107.9% during the 2nd quarter. Nationwide Fund Advisors now owns 389,616 shares of the medical equipment provider’s stock worth $40,204,000 after purchasing an additional 202,177 shares during the period. Institutional investors own 99.81% of the company’s stock.

Varian Medical Systems Company Profile

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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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