Varian Medical Systems, Inc. (NYSE:VAR) has been assigned a consensus rating of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $108.75.
Several equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Varian Medical Systems to $115.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Citigroup lifted their target price on shares of Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 25th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, January 28th. Goldman Sachs Group lowered shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 target price on the stock. in a report on Thursday, January 25th. Finally, Barrington Research upgraded shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Thursday, January 25th.
In other Varian Medical Systems news, Director Timothy E. Guertin sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $111.46, for a total value of $1,114,600.00. Following the transaction, the director now owns 2,161 shares in the company, valued at approximately $240,865.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark R. Laret sold 2,161 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $126.97, for a total transaction of $274,382.17. The disclosure for this sale can be found here. Insiders sold a total of 139,842 shares of company stock worth $15,923,110 in the last quarter. 0.78% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. WASHINGTON TRUST Co increased its position in shares of Varian Medical Systems by 100.0% in the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 485 shares during the last quarter. Catawba Capital Management VA bought a new stake in shares of Varian Medical Systems in the 4th quarter worth about $210,000. Convergence Investment Partners LLC bought a new stake in shares of Varian Medical Systems in the 3rd quarter worth about $219,000. Advisor Partners LLC bought a new stake in shares of Varian Medical Systems during the 4th quarter valued at about $223,000. Finally, Parametrica Management Ltd bought a new stake in shares of Varian Medical Systems during the 3rd quarter valued at about $229,000. Hedge funds and other institutional investors own 99.19% of the company’s stock.
Shares of Varian Medical Systems (VAR) traded down $0.48 on Friday, hitting $118.10. 296,288 shares of the company’s stock were exchanged, compared to its average volume of 973,150. The firm has a market cap of $10,959.22, a price-to-earnings ratio of 29.32, a PEG ratio of 3.47 and a beta of 0.81. Varian Medical Systems has a 52 week low of $77.73 and a 52 week high of $130.29.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.06. The company had revenue of $678.50 million for the quarter, compared to analyst estimates of $633.96 million. Varian Medical Systems had a net margin of 4.27% and a return on equity of 27.13%. Varian Medical Systems’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. analysts predict that Varian Medical Systems will post 4.31 EPS for the current fiscal year.
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About Varian Medical Systems
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.
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