Varian Medical Systems, Inc. (NYSE:VAR) has been given a consensus recommendation of “Hold” by the thirteen analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $92.70.

A number of analysts recently commented on the stock. BTIG Research cut shares of Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a research note on Friday, September 1st. Robert W. Baird reiterated 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 upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.

Varian Medical Systems (NYSE:VAR) traded up 0.72% on Wednesday, hitting $107.19. 608,627 shares of the stock traded hands. The firm has a 50-day moving average price of $100.86 and a 200-day moving average price of $96.73. The company has a market capitalization of $9.84 billion, a PE ratio of 35.28 and a beta of 0.58. Varian Medical Systems has a 12 month low of $75.20 and a 12 month high of $107.34.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.09. The business had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. Analysts forecast that Varian Medical Systems will post $3.93 earnings per share for the current year.

In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 931 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $105.00, for a total transaction of $97,755.00. Following the completion of the transaction, the executive vice president now directly owns 27,531 shares of the company’s stock, valued at approximately $2,890,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $105.41, for a total transaction of $1,587,369.19. Following the transaction, the insider now directly owns 81,835 shares of the company’s stock, valued at $8,626,227.35. The disclosure for this sale can be found here. Insiders have sold a total of 79,592 shares of company stock valued at $8,198,042 over the last three months. 0.91% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Varian Medical Systems by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after buying an additional 150,482 shares during the last quarter. BlackRock Inc. raised its position in Varian Medical Systems by 6.6% during the 2nd quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock worth $869,233,000 after buying an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC raised its position in Varian Medical Systems by 0.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock worth $482,875,000 after buying an additional 38,005 shares during the last quarter. State Street Corp raised its position in Varian Medical Systems by 1.3% during the 1st quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock worth $394,109,000 after buying an additional 57,090 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in Varian Medical Systems by 8.5% during the 1st quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock worth $358,332,000 after buying an additional 306,975 shares during the last quarter. 99.64% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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