Varian Medical Systems Receives Average Recommendation of “Hold” from Analysts (NYSE:VAR)
Shares of Varian Medical Systems (NYSE:VAR) have been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the company, Stock Ratings Network.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $87.22.
In other Varian Medical Systems news, CFO Elisha W. Finney sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $83.95, for a total transaction of $419,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Varian Medical Systems (NYSE:VAR) opened at 85.34 on Monday. Varian Medical Systems has a one year low of $70.10 and a one year high of $87.85. The stock’s 50-day moving average is $84.18 and its 200-day moving average is $82.69. The company has a market cap of $8.807 billion and a P/E ratio of 21.93.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.01. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $767.52 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Varian Medical Systems will post $4.27 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on VAR shares. Analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note on Friday, July 25th. They now have a $88.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, July 24th. They now have a $98.00 price target on the stock, up previously from $92.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Varian Medical Systems in a research note on Thursday, July 24th. They now have a $95.00 price target on the stock, up previously from $85.00.
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.
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