Varian Medical Systems, Inc. (NYSE:VAR) has been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $93.25.

VAR has been the topic of a number of analyst reports. Off Wall Street initiated coverage on Varian Medical Systems in a research note on Monday, April 24th. They issued a “sell” rating on the stock. Royal Bank Of Canada lifted their price target on Varian Medical Systems from $82.00 to $90.00 and gave the company a “sector perform” rating in a research note on Thursday, April 27th. Barrington Research downgraded Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Zacks Investment Research downgraded Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Finally, TheStreet upgraded Varian Medical Systems from a “c+” rating to a “b+” rating in a research note on Wednesday, April 26th.

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Shares of Varian Medical Systems (VAR) traded up 1.13% on Friday, hitting $97.74. The stock had a trading volume of 812,205 shares. Varian Medical Systems has a one year low of $75.20 and a one year high of $107.08. The firm’s 50-day moving average is $101.70 and its 200-day moving average is $93.39. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 32.17 and a beta of 0.61.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $663.86 million. During the same period in the previous year, the business earned $1.00 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect that Varian Medical Systems will post $3.94 EPS for the current fiscal year.

In related news, EVP Kolleen T. Kennedy sold 56,573 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $99.76, for a total value of $5,643,722.48. Following the completion of the transaction, the executive vice president now directly owns 32,737 shares in the company, valued at $3,265,843.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dow R. Wilson sold 15,059 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $96.48, for a total value of $1,452,892.32. Following the completion of the transaction, the insider now owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,284 shares of company stock valued at $16,022,132. Insiders own 0.91% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in VAR. Park Avenue Securities LLC raised its position in Varian Medical Systems by 0.4% in the second quarter. Park Avenue Securities LLC now owns 2,276 shares of the medical equipment provider’s stock valued at $234,000 after buying an additional 9 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Varian Medical Systems by 0.6% in the second 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 during the last quarter. First Mercantile Trust Co. raised its position in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 25 shares during the last quarter. Cleararc Capital Inc. raised its position in Varian Medical Systems by 1.1% in the first quarter. Cleararc Capital Inc. now owns 2,298 shares of the medical equipment provider’s stock valued at $209,000 after buying an additional 26 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Varian Medical Systems by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,622 shares of the medical equipment provider’s stock valued at $330,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 99.27% 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.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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