Shares of Varian Medical Systems, Inc. (NYSE:VAR) have earned an average recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $111.29.
VAR has been the subject of a number of research analyst reports. TheStreet raised shares of Varian Medical Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 25th. Zacks Investment Research raised shares of Varian Medical Systems from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Tuesday, March 13th. ValuEngine raised shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada set a $115.00 price objective on shares of Varian Medical Systems and gave the stock a “hold” rating in a research report on Tuesday, April 10th.
Varian Medical Systems traded down $1.14, reaching $122.17, during midday trading on Friday, MarketBeat.com reports. 806,293 shares of the company were exchanged, compared to its average volume of 559,067. Varian Medical Systems has a one year low of $95.23 and a one year high of $130.29. The stock has a market cap of $11.28 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 3.43 and a beta of 0.85.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.11. Varian Medical Systems had a net margin of 4.77% and a return on equity of 27.99%. The firm had revenue of $729.90 million during the quarter, compared to analysts’ expectations of $685.86 million. During the same period in the previous year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. research analysts expect that Varian Medical Systems will post 4.5 EPS for the current fiscal year.
In other news, EVP Kolleen T. Kennedy sold 699 shares of the business’s stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $120.33, for a total value of $84,110.67. Following the completion of the sale, the executive vice president now owns 27,361 shares of the company’s stock, valued at $3,292,349.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John W. Kuo sold 1,327 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $117.15, for a total transaction of $155,458.05. Following the completion of the sale, the senior vice president now directly owns 30,551 shares of the company’s stock, valued at approximately $3,579,049.65. The disclosure for this sale can be found here. In the last three months, insiders sold 4,053 shares of company stock valued at $484,127. 0.78% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of VAR. Point72 Asia Hong Kong Ltd acquired a new position in Varian Medical Systems in the first quarter valued at about $100,000. Summit Trail Advisors LLC raised its stake in Varian Medical Systems by 28,765.9% in the first quarter. Summit Trail Advisors LLC now owns 100,742 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 100,393 shares in the last quarter. Signaturefd LLC acquired a new position in Varian Medical Systems in the first quarter valued at about $106,000. Advisory Services Network LLC raised its stake in Varian Medical Systems by 3,418.8% in the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock valued at $188,000 after purchasing an additional 1,641 shares in the last quarter. Finally, MUFG Americas Holdings Corp raised its stake in Varian Medical Systems by 45.2% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock valued at $190,000 after purchasing an additional 533 shares in the last quarter. 93.74% of the stock is owned by institutional investors and hedge funds.
About Varian Medical Systems
Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.
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