Brokerages Set Varian Medical Systems, Inc. (VAR) PT at $111.29

Shares of Varian Medical Systems, Inc. (NYSE:VAR) have been assigned an average rating of “Hold” from the twelve brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $111.29.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Tuesday, March 13th. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a research report on Tuesday, April 10th. TheStreet upgraded Varian Medical Systems from a “c” rating to a “b” rating in a research report on Wednesday, April 25th. Finally, JPMorgan Chase & Co. lowered Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Thursday, June 28th.

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In other news, SVP John W. Kuo sold 1,327 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $117.15, for a total value of $155,458.05. Following the completion of the transaction, the senior vice president now owns 30,551 shares in the company, valued at approximately $3,579,049.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kolleen T. Kennedy sold 699 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $120.33, for a total value of $84,110.67. Following the completion of the transaction, the executive vice president now owns 27,361 shares of the company’s stock, valued at approximately $3,292,349.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,382 shares of company stock valued at $646,996. Insiders own 0.78% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in VAR. Renaissance Technologies LLC boosted its position in Varian Medical Systems by 438.0% during the 4th quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock valued at $82,940,000 after purchasing an additional 607,500 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Varian Medical Systems by 77.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 813,274 shares of the medical equipment provider’s stock valued at $99,749,000 after purchasing an additional 353,938 shares during the period. Millennium Management LLC boosted its position in Varian Medical Systems by 842.3% during the 1st quarter. Millennium Management LLC now owns 256,392 shares of the medical equipment provider’s stock valued at $31,446,000 after purchasing an additional 229,184 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Varian Medical Systems during the 4th quarter valued at approximately $19,511,000. Finally, Chicago Equity Partners LLC boosted its position in Varian Medical Systems by 523.8% during the 1st quarter. Chicago Equity Partners LLC now owns 148,100 shares of the medical equipment provider’s stock valued at $18,164,000 after purchasing an additional 124,360 shares during the period. Institutional investors and hedge funds own 93.65% of the company’s stock.

VAR stock traded up $1.64 during midday trading on Wednesday, hitting $118.21. 701,800 shares of the company’s stock were exchanged, compared to its average volume of 719,663. Varian Medical Systems has a 12-month low of $95.23 and a 12-month high of $130.29. The company has a market capitalization of $10.67 billion, a PE ratio of 32.73, a P/E/G ratio of 3.25 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.11. Varian Medical Systems had a return on equity of 27.99% and a net margin of 4.77%. The company had revenue of $729.90 million for the quarter, compared to the consensus estimate of $685.86 million. During the same period in the previous year, the business earned $0.89 EPS. Varian Medical Systems’s revenue for the quarter was up 10.1% compared to the same quarter last year. equities research analysts anticipate that Varian Medical Systems will post 4.49 EPS for the current fiscal year.

Varian Medical Systems Company Profile

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.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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