Varian Medical Systems, Inc. (VAR) Price Target Raised to $121.00

Varian Medical Systems, Inc. (NYSE:VAR) had its target price upped by Citigroup Inc. from $119.00 to $121.00 in a report released on Monday. The firm currently has a neutral rating on the medical equipment provider’s stock.

A number of other equities analysts also recently commented on the stock. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a report on Sunday. Zacks Investment Research downgraded shares of Varian Medical Systems from a hold rating to a sell rating in a report on Friday, October 27th. Royal Bank Of Canada reissued a hold rating and set a $100.00 price target on shares of Varian Medical Systems in a report on Friday, September 1st. Robert W. Baird reissued a hold rating and set a $99.00 price target on shares of Varian Medical Systems in a report on Monday, August 28th. Finally, BidaskClub raised shares of Varian Medical Systems from a sell rating to a hold rating in a report on Saturday, August 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $97.83.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The business had revenue of $739.00 million for the quarter, compared to the consensus estimate of $741.69 million. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. Varian Medical Systems’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share.

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In other Varian Medical Systems news, Director R Andrew Eckert sold 5,651 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $102.39, for a total value of $578,605.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the completion of the sale, the insider now owns 81,835 shares of the company’s stock, valued at approximately $7,895,440.80. The disclosure for this sale can be found here. Insiders sold a total of 56,887 shares of company stock valued at $5,790,308 in the last 90 days. Corporate insiders own 0.91% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of VAR. OppenheimerFunds Inc. increased its position in Varian Medical Systems by 9.5% in the 1st quarter. OppenheimerFunds Inc. now owns 4,570 shares of the medical equipment provider’s stock valued at $416,000 after acquiring an additional 398 shares in the last quarter. Teachers Advisors LLC increased its position in Varian Medical Systems by 12.0% in the 1st quarter. Teachers Advisors LLC now owns 120,763 shares of the medical equipment provider’s stock valued at $11,005,000 after acquiring an additional 12,985 shares in the last quarter. Thrivent Financial For Lutherans increased its position in Varian Medical Systems by 5.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 3,430 shares of the medical equipment provider’s stock valued at $313,000 after acquiring an additional 190 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Varian Medical Systems by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 310,309 shares of the medical equipment provider’s stock valued at $28,278,000 after acquiring an additional 18,397 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Varian Medical Systems by 4.3% in the 1st quarter. AQR Capital Management LLC now owns 255,338 shares of the medical equipment provider’s stock valued at $23,269,000 after acquiring an additional 10,486 shares in the last quarter. Hedge funds and other institutional investors own 99.15% 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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