Shares of Varian Medical Systems, Inc. (NYSE:VAR) have been given an average recommendation of “Hold” by the ten research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $113.33.

Several brokerages recently commented on VAR. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Royal Bank of Canada set a $115.00 price objective on shares of Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, October 4th. Finally, JPMorgan Chase & Co. downgraded shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Thursday, June 28th.

VAR stock traded up $0.64 on Friday, hitting $108.65. 514,800 shares of the company were exchanged, compared to its average volume of 676,559. Varian Medical Systems has a twelve month low of $99.00 and a twelve month high of $130.29. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 3.15 and a beta of 0.78.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The firm had revenue of $709.10 million during the quarter, compared to analyst estimates of $663.19 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. Varian Medical Systems’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Varian Medical Systems will post 4.45 earnings per share for the current fiscal year.

In other Varian Medical Systems news, SVP John W. Kuo sold 962 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $108.84, for a total transaction of $104,704.08. Following the completion of the sale, the senior vice president now directly owns 30,848 shares in the company, valued at $3,357,496.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy E. Guertin sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $110.84, for a total transaction of $1,108,400.00. Following the sale, the director now owns 4,113 shares of the company’s stock, valued at $455,884.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,051 shares of company stock valued at $1,774,728. 0.78% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baird Financial Group Inc. boosted its stake in shares of Varian Medical Systems by 5.7% in the first quarter. Baird Financial Group Inc. now owns 8,006 shares of the medical equipment provider’s stock valued at $981,000 after purchasing an additional 430 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of Varian Medical Systems by 10.2% in the second quarter. First Republic Investment Management Inc. now owns 5,535 shares of the medical equipment provider’s stock valued at $629,000 after purchasing an additional 511 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Varian Medical Systems by 17.3% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,987 shares of the medical equipment provider’s stock valued at $454,000 after purchasing an additional 587 shares during the period. NorthCoast Asset Management LLC boosted its stake in shares of Varian Medical Systems by 4.7% in the second quarter. NorthCoast Asset Management LLC now owns 15,010 shares of the medical equipment provider’s stock valued at $1,707,000 after purchasing an additional 672 shares during the period. Finally, SFE Investment Counsel boosted its stake in shares of Varian Medical Systems by 2.6% in the second quarter. SFE Investment Counsel now owns 30,752 shares of the medical equipment provider’s stock valued at $3,497,000 after purchasing an additional 779 shares during the period. Institutional investors own 92.44% of the company’s stock.

About Varian Medical Systems

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Varian Particle Therapy. The Oncology Systems segment provides hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy.

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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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