Jefferies Group Increases Varian Medical Systems Price Target to $80.00 (VAR)
Investment analysts at Jefferies Group upped their target price on shares of Varian Medical Systems (NYSE:VAR) from $78.00 to $80.00 in a note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price would suggest a potential upside of 9.14% from the stock’s previous close.
Varian Medical Systems (NYSE:VAR) traded down 6.65% on Thursday, hitting $73.30. The stock had a trading volume of 3,121,553 shares. Varian Medical Systems has a one year low of $57.00 and a one year high of $75.78. The stock’s 50-day moving average is $72.66 and its 200-day moving average is $70.1. The company has a market cap of $7.891 billion and a price-to-earnings ratio of 19.76.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.12 by $0.04. The company had revenue of $770.00 million for the quarter, compared to the consensus estimate of $779.02 million. During the same quarter last year, the company posted $1.08 earnings per share. Varian Medical Systems’s revenue was up 1.8% compared to the same quarter last year.
In other Varian Medical Systems news, SVP Robert Kluge unloaded 13,889 shares of the stock on the open market in a transaction dated Monday, October 14th. The shares were sold at an average price of $78.00, for a total value of $1,083,342.00. Following the completion of the transaction, the senior vice president now directly owns 30,121 shares in the company, valued at approximately $2,349,438. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on VAR. Analysts at Goldman Sachs Group Inc. cut their price target on shares of Varian Medical Systems to $70.00 in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note to investors on Monday, September 16th. They now have a $78.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note to investors on Monday, July 29th. They now have a $78.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.17.
Varian Medical Systems, Inc is engaged in the design, manufacture, sale and service of equipment and software products for treating cancer with radiotherapy, stereotactic radiotherapy, stereotactic body radiotherapy (NYSE:VAR), stereotactic radiosurgery (SRS) and brachytherapy.
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