Varian Medical Systems, Inc. (NYSE:VAR) has received an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $91.94.

A number of analysts have recently weighed in on VAR shares. Zacks Investment Research upgraded shares of Varian Medical Systems from a “strong sell” rating to a “hold” rating in a report on Thursday, April 6th. Off Wall Street started coverage on shares of Varian Medical Systems in a report on Monday, April 24th. They set a “sell” rating for the company. Royal Bank Of Canada increased their target price on shares of Varian Medical Systems from $82.00 to $90.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. Barrington Research lowered shares of Varian Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Finally, TheStreet upgraded shares of Varian Medical Systems from a “c+” rating to a “b+” rating in a report on Wednesday, April 26th.

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In other news, insider Dow R. Wilson sold 15,060 shares of Varian Medical Systems stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $103.37, for a total transaction of $1,556,752.20. Following the completion of the transaction, the insider now directly owns 81,836 shares in the company, valued at $8,459,387.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kolleen T. Kennedy sold 26,092 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $105.00, for a total transaction of $2,739,660.00. Following the transaction, the executive vice president now owns 52,692 shares of the company’s stock, valued at $5,532,660. The disclosure for this sale can be found here. Insiders have sold 147,676 shares of company stock valued at $14,979,214 over the last quarter. Company insiders own 0.91% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in shares of Varian Medical Systems by 0.7% in the second quarter. LS Investment Advisors LLC now owns 8,063 shares of the medical equipment provider’s stock valued at $832,000 after buying an additional 60 shares during the period. TNB Financial increased its stake in shares of Varian Medical Systems by 1.3% in the second quarter. TNB Financial now owns 83,833 shares of the medical equipment provider’s stock valued at $8,651,000 after buying an additional 1,078 shares during the period. North American Management Corp increased its stake in shares of Varian Medical Systems by 11.3% in the second quarter. North American Management Corp now owns 5,900 shares of the medical equipment provider’s stock valued at $609,000 after buying an additional 600 shares during the period. CrestPoint Capital Management LLC increased its stake in shares of Varian Medical Systems by 50.0% in the second quarter. CrestPoint Capital Management LLC now owns 6,900 shares of the medical equipment provider’s stock valued at $712,000 after buying an additional 2,300 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Varian Medical Systems by 520.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 15,174 shares of the medical equipment provider’s stock valued at $1,566,000 after buying an additional 12,728 shares during the period. 99.55% of the stock is owned by institutional investors.

Shares of Varian Medical Systems (VAR) traded down 0.58% on Tuesday, reaching $105.40. The company’s stock had a trading volume of 559,199 shares. The stock has a 50 day moving average of $100.37 and a 200-day moving average of $88.77. Varian Medical Systems has a 12 month low of $75.20 and a 12 month high of $107.08. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 34.01 and a beta of 0.62.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $655 million during the quarter, compared to analyst estimates of $639.26 million. Varian Medical Systems had a net margin of 9.39% and a return on equity of 24.82%. Varian Medical Systems’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts anticipate that Varian Medical Systems will post $3.90 EPS for the current year.

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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