Varian Medical Systems, Inc. (VAR) Receives $113.33 Consensus Target Price from Analysts

Varian Medical Systems, Inc. (NYSE:VAR) has received an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $113.33.

A number of analysts recently commented on VAR shares. JPMorgan Chase & Co. downgraded shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a report on Thursday, June 28th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. 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 report on Thursday, October 4th.

VAR stock traded up $0.64 during trading on Friday, reaching $108.65. 514,800 shares of the company were exchanged, compared to its average volume of 676,559. The company has a market cap of $10.25 billion, a P/E ratio of 30.18, a P/E/G ratio of 3.15 and a beta of 0.78. Varian Medical Systems has a 52-week low of $99.00 and a 52-week high of $130.29.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $709.10 million for the quarter, compared to the consensus estimate of $663.19 million. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. As a group, analysts predict that Varian Medical Systems will post 4.45 earnings per share for the current year.

In other Varian Medical Systems news, SVP John W. Kuo sold 862 shares of Varian Medical Systems stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $105.26, for a total transaction of $90,734.12. Following the completion of the transaction, the senior vice president now owns 30,686 shares in the company, valued at $3,230,008.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John W. Kuo sold 1,327 shares of Varian Medical Systems stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $110.90, for a total transaction of $147,164.30. Following the transaction, the senior vice president now owns 30,551 shares of the company’s stock, valued at approximately $3,388,105.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,051 shares of company stock valued at $1,774,728. 0.78% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd acquired a new position in Varian Medical Systems during the first quarter worth about $100,000. Squar Milner Financial Services LLC acquired a new position in Varian Medical Systems during the second quarter worth about $117,000. Piedmont Investment Advisors LLC acquired a new position in Varian Medical Systems during the second quarter worth about $118,000. Itau Unibanco Holding S.A. acquired a new position in Varian Medical Systems during the second quarter worth about $137,000. Finally, NumerixS Investment Technologies Inc acquired a new position in Varian Medical Systems during the second quarter worth about $156,000. Institutional investors own 92.44% of the company’s stock.

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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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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