Varian Medical Systems, Inc. (VAR) Receives $116.00 Average PT from Analysts

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Shares of Varian Medical Systems, Inc. (NYSE:VAR) have been assigned an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $116.00.

A number of brokerages recently issued reports on VAR. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Citigroup boosted their price target on Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 31st. JPMorgan Chase & Co. reduced their price target on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a report on Wednesday, October 24th. Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the company a “hold” rating in a report on Thursday, October 4th. Finally, Robert W. Baird began coverage on Varian Medical Systems in a report on Friday, October 19th. They set a “neutral” rating and a $119.00 price target on the stock.

In other Varian Medical Systems news, Director Timothy E. Guertin sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $110.84, for a total transaction of $1,108,400.00. Following the transaction, the director now owns 4,113 shares in the company, valued at approximately $455,884.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Gary E. Bischoping, Jr. sold 845 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total value of $101,602.80. Following the transaction, the senior vice president now owns 1,000 shares in the company, valued at approximately $120,240. The disclosure for this sale can be found here. Insiders have sold a total of 20,061 shares of company stock worth $2,230,050 in the last quarter. Company insiders own 0.78% of the company’s stock.

Several hedge funds have recently bought and sold shares of VAR. Penserra Capital Management LLC boosted its position in shares of Varian Medical Systems by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 3,220 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 455 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Varian Medical Systems by 16.5% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 3,404 shares of the medical equipment provider’s stock worth $381,000 after purchasing an additional 483 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of Varian Medical Systems by 10.2% in the 2nd quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock worth $629,000 after purchasing an additional 511 shares in the last quarter. GAM Holding AG boosted its position in shares of Varian Medical Systems by 7.0% in the 3rd quarter. GAM Holding AG now owns 8,073 shares of the medical equipment provider’s stock worth $904,000 after purchasing an additional 527 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Varian Medical Systems by 4.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,378 shares of the medical equipment provider’s stock worth $1,385,000 after purchasing an additional 553 shares in the last quarter. Hedge funds and other institutional investors own 93.35% of the company’s stock.

NYSE:VAR traded down $0.51 during mid-day trading on Tuesday, reaching $117.42. 477,195 shares of the company’s stock traded hands, compared to its average volume of 712,581. Varian Medical Systems has a 12-month low of $101.42 and a 12-month high of $130.29. The company has a market cap of $10.93 billion, a PE ratio of 26.57, a P/E/G ratio of 3.18 and a beta of 0.64.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The business had revenue of $801.60 million for the quarter, compared to analysts’ expectations of $766.26 million. During the same quarter in the prior year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that Varian Medical Systems will post 4.69 earnings per share for the current fiscal year.

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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