Shares of Varian Medical Systems, Inc. (NYSE:VAR) have received an average rating of “Hold” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $114.14.
VAR has been the topic of several research analyst reports. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, October 4th. Robert W. Baird started coverage on Varian Medical Systems in a research note on Friday. They issued a “neutral” rating and a $119.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research note on Thursday, June 28th.
Varian Medical Systems stock traded down $1.66 during trading hours on Friday, hitting $104.19. 876,400 shares of the stock traded hands, compared to its average volume of 677,325. The company has a market cap of $9.95 billion, a PE ratio of 28.94, a PEG ratio of 2.80 and a beta of 0.78. Varian Medical Systems has a 1 year low of $99.00 and a 1 year high of $130.29.
In other news, SVP John W. Kuo sold 962 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $108.84, for a total value of $104,704.08. Following the sale, the senior vice president now owns 30,848 shares in the company, valued at $3,357,496.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John W. Kuo sold 862 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $105.26, for a total value of $90,734.12. Following the completion of the sale, the senior vice president now owns 30,686 shares in the company, valued at approximately $3,230,008.36. The disclosure for this sale can be found here. Insiders sold 16,051 shares of company stock worth $1,774,728 in the last 90 days. Company insiders own 0.78% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Point72 Asia Hong Kong Ltd purchased a new position in Varian Medical Systems during the first quarter worth approximately $100,000. Summit Trail Advisors LLC boosted its position in Varian Medical Systems by 28,765.9% during the first quarter. Summit Trail Advisors LLC now owns 100,742 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 100,393 shares in the last quarter. Squar Milner Financial Services LLC purchased a new position in Varian Medical Systems during the second quarter worth approximately $117,000. Piedmont Investment Advisors LLC purchased a new position in Varian Medical Systems during the second quarter worth approximately $118,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Varian Medical Systems during the second quarter worth approximately $137,000. Institutional investors own 92.98% of the company’s stock.
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 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.
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