Royal Bank Of Canada Analysts Give Varian Medical Systems (VAR) a $105.00 Price Target

Royal Bank Of Canada set a $105.00 price target on Varian Medical Systems (NYSE:VAR) in a research note issued to investors on Thursday. The brokerage currently has a hold rating on the medical equipment provider’s stock.

Other research analysts also recently issued reports about the stock. Robert W. Baird reaffirmed a hold rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. BidaskClub raised shares of Varian Medical Systems from a sell rating to a hold rating in a research note on Saturday, August 12th. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Citigroup lifted their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a neutral rating in a research note on Monday, October 30th. Finally, Zacks Investment Research downgraded shares of Varian Medical Systems from a hold rating to a sell rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $98.39.

Shares of Varian Medical Systems (VAR) traded up $0.66 during midday trading on Thursday, hitting $112.41. 757,468 shares of the company traded hands, compared to its average volume of 705,755. Varian Medical Systems has a 12 month low of $76.94 and a 12 month high of $113.19. The stock has a market capitalization of $10,298.67, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 3.30 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. The firm had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. analysts predict that Varian Medical Systems will post 4.26 EPS for the current fiscal year.

In other news, EVP Kolleen T. Kennedy sold 2,021 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $107.36, for a total transaction of $216,974.56. Following the sale, the executive vice president now owns 27,595 shares in the company, valued at approximately $2,962,599.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Andrew Eckert sold 5,651 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $102.39, for a total transaction of $578,605.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,830 shares of company stock worth $4,350,109. Insiders own 0.91% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC boosted its holdings in shares of Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 150 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Varian Medical Systems by 10.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock valued at $132,000 after buying an additional 125 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Varian Medical Systems by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock valued at $187,000 after buying an additional 210 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Varian Medical Systems by 0.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 11 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Varian Medical Systems by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock valued at $202,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 99.15% of the company’s stock.

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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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