Zacks Reiterates “Hold” Rating for Varian Medical Systems (VAR)
Varian Medical Systems (NYSE:VAR)‘s stock had its “hold” rating restated by Zacks in a research note issued on Thursday, Analyst Ratings Net reports. They currently have a $78.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 6.41% from the company’s current price.
Varian Medical Systems (NYSE:VAR) traded down 6.65% during mid-day trading on Thursday, hitting $73.30. 3,121,553 shares of the company’s stock traded hands. 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 announced its 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 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of Varian Medical Systems from $78.00 to $80.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price 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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