Varian Medical Systems, Inc. (NYSE:VAR)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a research note issued to investors on Thursday, May 11th, MarketBeat reports.
Several other research analysts have also issued reports on the company. Aegis initiated coverage on Varian Medical Systems in a research report on Monday, February 6th. They issued a “hold” rating and a $85.00 price target on the stock. Royal Bank Of Canada set a $93.00 price target on Varian Medical Systems and gave the stock a “hold” rating in a research report on Monday, January 23rd. Evercore ISI lowered Varian Medical Systems from a “hold” rating to a “sell” rating and set a $81.50 price target on the stock. in a research report on Thursday, January 26th. Barrington Research raised their price target on Varian Medical Systems from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Finally, Off Wall Street began coverage on Varian Medical Systems in a report on Monday, April 24th. They set a “sell” rating on the stock. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Varian Medical Systems currently has a consensus rating of “Hold” and an average target price of $93.54.
Shares of Varian Medical Systems (NYSE VAR) opened at 102.96 on Thursday. Varian Medical Systems has a one year low of $68.08 and a one year high of $103.79. The company has a market capitalization of $9.46 billion, a P/E ratio of 33.22 and a beta of 0.63. The stock has a 50 day moving average price of $97.57 and a 200-day moving average price of $87.16.
Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The company had revenue of $655 million during the quarter, compared to analysts’ expectations of $639.26 million. Varian Medical Systems had a return on equity of 24.82% and a net margin of 9.39%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. Equities research analysts predict that Varian Medical Systems will post $3.90 earnings per share for the current fiscal year.
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In other news, Director Mark R. Laret sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.47, for a total value of $147,755.16. Following the transaction, the director now owns 3,289 shares of the company’s stock, valued at $340,312.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John W. Kuo sold 864 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $89.74, for a total value of $77,535.36. Following the completion of the transaction, the senior vice president now directly owns 27,914 shares in the company, valued at approximately $2,505,002.36. The disclosure for this sale can be found here. Insiders sold 101,819 shares of company stock worth $10,178,052 in the last ninety days. 0.91% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of VAR. Vident Investment Advisory LLC boosted its stake in shares of Varian Medical Systems by 42.5% in the fourth quarter. Vident Investment Advisory LLC now owns 14,681 shares of the medical equipment provider’s stock valued at $1,318,000 after buying an additional 4,381 shares during the period. Decatur Capital Management Inc. bought a new stake in shares of Varian Medical Systems during the third quarter valued at about $3,072,000. Motley Fool Wealth Management LLC boosted its stake in shares of Varian Medical Systems by 3.3% in the fourth quarter. Motley Fool Wealth Management LLC now owns 34,227 shares of the medical equipment provider’s stock valued at $3,073,000 after buying an additional 1,105 shares during the period. Westpac Banking Corp boosted its stake in Varian Medical Systems by 18.4% in the third quarter. Westpac Banking Corp now owns 6,080 shares of the medical equipment provider’s stock valued at $605,000 after buying an additional 943 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. boosted its stake in Varian Medical Systems by 9.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 10,900 shares of the medical equipment provider’s stock valued at $993,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 99.68% 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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.
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