Varian Medical Systems Upgraded to “Neutral” by Citigroup Inc. (VAR)
Varian Medical Systems (NYSE:VAR) was upgraded by Citigroup Inc. from a “sell” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $80.00 price objective on the stock, up from their previous price objective of $66.00. Citigroup Inc.’s price objective points to a potential upside of 0.28% from the stock’s previous close.
VAR has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note to investors on Tuesday, December 10th. They now have a $83.00 price target on the stock. Finally, 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, October 24th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.60.
In other Varian Medical Systems news, Director Richard Levy sold 20,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.68, for a total value of $1,553,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Varian Medical Systems (NYSE:VAR) traded up 2.57% on Tuesday, hitting $79.78. The stock had a trading volume of 935,136 shares. Varian Medical Systems has a 52 week low of $63.10 and a 52 week high of $80.66. The stock’s 50-day moving average is $77.19 and its 200-day moving average is $73.9. The company has a market cap of $8.434 billion and a price-to-earnings ratio of 19.54.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts predict that Varian Medical Systems will post $4.31 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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