Brokerages Set Varian Medical Systems, Inc. (NYSE:VAR) PT at $141.22

Shares of Varian Medical Systems, Inc. (NYSE:VAR) have earned an average rating of “Buy” from the eleven research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $141.22.

A number of research firms have commented on VAR. Robert W. Baird set a $158.00 target price on shares of Varian Medical Systems and gave the stock a “buy” rating in a research note on Friday, July 26th. Zacks Investment Research cut shares of Varian Medical Systems from a “strong-buy” rating to a “hold” rating and set a $139.00 target price on the stock. in a research note on Saturday, July 27th. UBS Group lifted their price objective on shares of Varian Medical Systems from $150.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. TheStreet cut shares of Varian Medical Systems from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Finally, Citigroup reduced their price objective on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd.

In other news, SVP Gary E. Bischoping, Jr. sold 56,232 shares of Varian Medical Systems stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $132.56, for a total transaction of $7,454,113.92. Following the sale, the senior vice president now owns 27,393 shares in the company, valued at $3,631,216.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gary E. Bischoping, Jr. sold 845 shares of Varian Medical Systems stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $127.94, for a total transaction of $108,109.30. Following the sale, the chief financial officer now owns 2,283 shares in the company, valued at approximately $292,087.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,685 shares of company stock worth $9,806,184. Company insiders own 0.78% of the company’s stock.

Several hedge funds have recently bought and sold shares of VAR. FMR LLC grew its holdings in shares of Varian Medical Systems by 245.7% in the first quarter. FMR LLC now owns 1,300,060 shares of the medical equipment provider’s stock valued at $184,244,000 after purchasing an additional 923,949 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Varian Medical Systems by 10.5% in the first quarter. BlackRock Inc. now owns 7,997,119 shares of the medical equipment provider’s stock valued at $1,133,353,000 after purchasing an additional 760,049 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Varian Medical Systems by 14,499.7% in the second quarter. Nuveen Asset Management LLC now owns 378,862 shares of the medical equipment provider’s stock valued at $51,574,000 after purchasing an additional 376,267 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Varian Medical Systems by 19.7% in the second quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock valued at $257,171,000 after purchasing an additional 311,004 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Varian Medical Systems by 4,724.5% in the first quarter. First Trust Advisors LP now owns 316,002 shares of the medical equipment provider’s stock valued at $44,784,000 after purchasing an additional 309,452 shares in the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.

NYSE VAR traded down $0.21 on Thursday, reaching $107.32. 666,900 shares of the stock were exchanged, compared to its average volume of 632,987. Varian Medical Systems has a one year low of $101.42 and a one year high of $142.50. The firm has a market capitalization of $9.98 billion, a PE ratio of 24.28, a PEG ratio of 2.96 and a beta of 0.84. The company’s 50-day simple moving average is $126.68 and its two-hundred day simple moving average is $132.13.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.18. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The company had revenue of $825.80 million for the quarter, compared to analysts’ expectations of $762.29 million. During the same quarter last year, the business earned $1.04 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. As a group, research analysts predict that Varian Medical Systems will post 4.62 earnings per share for the current year.

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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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