Varian Medical Systems Price Target Cut to $70.00 by Analysts at Goldman Sachs Group Inc. (VAR)
Analysts at Goldman Sachs Group Inc. reduced their target price on shares of Varian Medical Systems (NYSE:VAR) to $70.00 in a research report issued to clients and investors on Thursday, American Banking News reports. Goldman Sachs Group Inc.’s price target points to a potential downside of 10.85% from the stock’s previous close.
In other Varian Medical Systems news, SVP Robert Kluge unloaded 13,889 shares of the company’s stock on the open market in a transaction that occurred on 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 transaction, the senior vice president now directly owns 30,121 shares of the company’s stock, valued at approximately $2,349,438. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $75.00.
Shares of Varian Medical Systems (NYSE:VAR) traded down 6.99% during mid-day trading on Thursday, hitting $73.03. The stock had a trading volume of 1,102,314 shares. Varian Medical Systems has a 52 week low of $57.00 and a 52 week 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 $7.862 billion and a P/E 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. On average, analysts predict that Varian Medical Systems will post $4.03 earnings per share for the current fiscal year.
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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