Varian Medical Systems, Inc. (VAR) PT Raised to $121.00 at Citigroup Inc.

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

A number of other analysts have also weighed in on the company. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Zacks Investment Research lowered Varian Medical Systems from a hold rating to a sell rating in a research report on Friday, October 27th. Royal Bank Of Canada reissued a hold rating and issued a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. Robert W. Baird reissued a hold rating and issued a $99.00 target price on shares of Varian Medical Systems in a report on Monday, August 28th. Finally, BidaskClub raised Varian Medical Systems from a sell rating to a hold rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $97.83.

Shares of Varian Medical Systems (NYSE:VAR) traded down $0.19 during trading on Monday, hitting $109.03. The stock had a trading volume of 574,546 shares, compared to its average volume of 873,314. The firm has a market cap of $10,010.00, a PE ratio of 29.00, a P/E/G ratio of 3.21 and a beta of 0.65. Varian Medical Systems has a fifty-two week low of $76.94 and a fifty-two week high of $109.71. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data 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). The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. research analysts forecast that Varian Medical Systems will post 4.26 earnings per share for the current fiscal year.

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In related news, EVP Kolleen T. Kennedy sold 933 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $107.29, for a total transaction of $100,101.57. Following the completion of the transaction, the executive vice president now directly owns 27,533 shares of the company’s stock, valued at $2,954,015.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 931 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $105.00, for a total transaction of $97,755.00. Following the transaction, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at $2,890,755. The disclosure for this sale can be found here. Insiders have sold 42,761 shares of company stock valued at $4,447,864 in the last quarter. Insiders own 0.91% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its stake in shares of Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Varian Medical Systems by 10.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock worth $132,000 after purchasing an additional 125 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Varian Medical Systems by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock worth $187,000 after purchasing an additional 210 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Varian Medical Systems by 0.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock worth $197,000 after purchasing an additional 11 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Varian Medical Systems by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock worth $202,000 after purchasing an additional 145 shares in the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.

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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