Shares of Varian Medical Systems Inc. (NYSE:VAR) have received an average rating of “Hold” from the ten ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $91.33.
Several research firms have recently weighed in on VAR. Jefferies Group restated a “buy” rating and set a $98.00 price target on shares of Varian Medical Systems in a report on Wednesday. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Morgan Stanley boosted their price target on Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Thursday, July 28th. Brean Capital restated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, June 23rd. Finally, BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Wednesday, June 22nd.
In other Varian Medical Systems news, Director Timothy E. Guertin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $94.88, for a total value of $379,520.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dow R. Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $82.08, for a total value of $820,800.00. Following the completion of the transaction, the chief executive officer now directly owns 70,598 shares in the company, valued at $5,794,683.84. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Carnick & Kubik Group LLC acquired a new position in shares of Varian Medical Systems during the second quarter valued at about $267,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Varian Medical Systems during the second quarter valued at about $316,000. Kentucky Retirement Systems acquired a new position in shares of Varian Medical Systems during the second quarter valued at about $666,000. Mason Street Advisors LLC acquired a new position in shares of Varian Medical Systems during the second quarter valued at about $1,055,000. Finally, Sterling Capital Management LLC raised its position in shares of Varian Medical Systems by 18.6% in the second quarter. Sterling Capital Management LLC now owns 6,832 shares of the company’s stock valued at $562,000 after buying an additional 1,070 shares during the period. 99.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Varian Medical Systems (NYSE:VAR) opened at 98.54 on Tuesday. The company’s 50-day moving average price is $95.97 and its 200-day moving average price is $86.89. The company has a market capitalization of $9.20 billion, a PE ratio of 25.01 and a beta of 0.76. Varian Medical Systems has a 1-year low of $72.74 and a 1-year high of $99.66.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.05. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. The firm had revenue of $789.40 million for the quarter, compared to analysts’ expectations of $779.90 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts expect that Varian Medical Systems will post $4.64 earnings per share for the current fiscal year.
Varian Medical Systems Company Profile
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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