Varian Medical Systems, Inc. (NYSE:VAR) Receives $84.63 Average PT from Analysts

Varian Medical Systems, Inc. (NYSE:VAR) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $84.63.

In other Varian Medical Systems news, Director R Andrew Eckert sold 3,000 shares of the stock in a transaction on Wednesday, December 2nd. The shares were sold at an average price of $81.67, for a total value of $245,010.00. Following the sale, the director now directly owns 7,016 shares in the company, valued at $572,996.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dow R. Wilson sold 9,000 shares of the stock in a transaction on Monday, December 7th. The stock was sold at an average price of $80.00, for a total transaction of $720,000.00. Following the completion of the sale, the chief executive officer now owns 44,943 shares in the company, valued at $3,595,440. The disclosure for this sale can be found here.

Several large investors recently modified their holdings of the company. ING Groep raised its stake in shares of Varian Medical Systems by 2.8% in the third quarter. ING Groep now owns 124,412 shares of the company’s stock valued at $9,179,000 after buying an additional 3,374 shares during the last quarter. Eagle Asset Management raised its stake in shares of Varian Medical Systems by 122.6% in the third quarter. Eagle Asset Management now owns 65,496 shares of the company’s stock valued at $4,832,000 after buying an additional 36,070 shares during the last quarter. Finally, KBC Group raised its stake in shares of Varian Medical Systems by 91.2% in the third quarter. KBC Group now owns 23,373 shares of the company’s stock valued at $1,725,000 after buying an additional 11,149 shares during the last quarter.

VAR has been the topic of several research analyst reports. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Tuesday, September 29th. Goldman Sachs cut shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and lowered their price target for the company from $83.00 to $76.00 in a report on Monday, September 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $75.00 price target (down from $95.00) on shares of Varian Medical Systems in a report on Tuesday, October 20th. Brean Capital restated a “buy” rating and set a $82.00 price target (down from $96.00) on shares of Varian Medical Systems in a report on Tuesday, October 20th. Finally, Robert W. Baird cut shares of Varian Medical Systems from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $101.00 to $82.00 in a report on Tuesday, October 20th.

Shares of Varian Medical Systems (NYSE:VAR) traded down 2.66% on Monday, reaching $78.65. The company had a trading volume of 1,204,592 shares. The stock has a market capitalization of $7.62 billion and a PE ratio of 19.23. The company has a 50 day moving average price of $79.89 and a 200 day moving average price of $81.42. Varian Medical Systems has a 52-week low of $71.07 and a 52-week high of $96.67.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, October 28th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by $0.06. During the same quarter in the prior year, the business posted $1.11 earnings per share. The business had revenue of $817.80 million for the quarter, compared to the consensus estimate of $813.18 million. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Varian Medical Systems will post $4.45 earnings per share for the current year.

12 Month Chart for NYSE:VAR

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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection. The Company offers tools for fighting cancer, taking X-ray images and protecting ports and borders. The Company’s products include linear accelerators, brachytherapy afterloaders, treatment simulation and verification equipment, accessories, information management, treatment planning and image processing software. The Company’s customers include university research and community hospitals, private and governmental institutions, healthcare agencies, doctors’ offices and cancer care clinics.

 

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