Varian Medical Systems Inc. (NYSE:VAR) had its price target upped by analysts at Robert W. Baird from $91.00 to $99.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 0.19% from the company’s previous close.
Several other research analysts have also commented on VAR. Jefferies Group restated a “buy” rating on shares of Varian Medical Systems in a report on Friday, June 10th. Brean Capital reiterated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, June 23rd. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Finally, Citigroup Inc. lifted their price objective on shares of Varian Medical Systems from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Varian Medical Systems has an average rating of “Hold” and a consensus price target of $89.80.
Shares of Varian Medical Systems (NYSE:VAR) traded up 0.26% during midday trading on Wednesday, reaching $99.07. 57,987 shares of the company traded hands. Varian Medical Systems has a 12 month low of $72.74 and a 12 month high of $99.25. The company’s 50 day moving average is $95.74 and its 200-day moving average is $86.71. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 25.14 and a beta of 0.76.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.05. Varian Medical Systems had a net margin of 12.28% and a return on equity of 25.01%. The firm had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. During the same quarter last year, the firm posted $1.15 earnings per share. Varian Medical Systems’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that Varian Medical Systems will post $4.64 earnings per share for the current fiscal year.
In other Varian Medical Systems news, SVP Clarence R. Verhoef sold 9,483 shares of Varian Medical Systems stock in a transaction on Monday, August 1st. The shares were sold at an average price of $94.88, for a total value of $899,747.04. Following the completion of the transaction, the senior vice president now owns 8,616 shares of the company’s stock, valued at $817,486.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Elisha W. Finney sold 9,000 shares of Varian Medical Systems stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $96.95, for a total transaction of $872,550.00. Following the completion of the transaction, the chief financial officer now directly owns 14,195 shares of the company’s stock, valued at approximately $1,376,205.25. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in Varian Medical Systems during the first quarter worth approximately $104,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Varian Medical Systems during the second quarter valued at about $115,000. Invictus RG purchased a new position in shares of Varian Medical Systems during the first quarter valued at about $132,000. Global X Management Co. LLC increased its position in shares of Varian Medical Systems by 143.0% in the second quarter. Global X Management Co. LLC now owns 1,662 shares of the company’s stock valued at $137,000 after buying an additional 978 shares during the period. Finally, Advisor Group Inc. purchased a new position in shares of Varian Medical Systems during the second quarter valued at about $146,000. 99.65% of the stock is owned by hedge funds and other institutional investors.
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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.
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