Jefferies Group reiterated their buy rating on shares of Varian Medical Systems Inc. (NYSE:VAR) in a research note issued to investors on Wednesday. Jefferies Group currently has a $98.00 price target on the stock.
Other analysts have also recently issued reports about the stock. BTIG Research reiterated a hold rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Zacks Investment Research cut shares of Varian Medical Systems from a buy rating to a hold rating in a research note on Friday, August 5th. Barrington Research lowered their target price on shares of Varian Medical Systems from $102.00 to $93.00 and set an outperform rating for the company in a research note on Thursday, July 28th. Brean Capital lifted their price objective on shares of Varian Medical Systems from $87.00 to $90.00 and gave the company a buy rating in a research note on Thursday, July 28th. 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $91.33.
Varian Medical Systems (NYSE:VAR) opened at 99.43 on Wednesday. Varian Medical Systems has a 1-year low of $73.18 and a 1-year high of $100.07. The stock has a market capitalization of $9.28 billion, a PE ratio of 25.24 and a beta of 0.71. The company’s 50-day moving average is $96.22 and its 200 day moving average is $87.34.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company earned $789.40 million during the quarter, compared to analysts’ expectations of $779.90 million. Varian Medical Systems had a net margin of 12.28% and a return on equity of 25.01%. Varian Medical Systems’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. Equities analysts predict that Varian Medical Systems will post $4.64 earnings per share for the current year.
In related news, SVP Clarence R. Verhoef sold 9,483 shares of the business’s 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 directly owns 8,616 shares in the company, valued at approximately $817,486.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Elisha W. Finney sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were 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 owns 14,195 shares of the company’s stock, valued at $1,376,205.25. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Carnick & Kubik Group LLC purchased a new position in Varian Medical Systems during the second quarter valued at about $267,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Varian Medical Systems during the second quarter valued at about $316,000. Kentucky Retirement Systems purchased a new position in Varian Medical Systems during the second quarter valued at about $666,000. Mason Street Advisors LLC purchased a new position in Varian Medical Systems during the second quarter valued at about $1,055,000. Finally, Sterling Capital Management LLC boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 99.65% of the company’s stock.
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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