Varian Medical Systems Inc. (NYSE:VAR)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $97.98 and last traded at $97.77, with a volume of 515,752 shares changing hands. The stock had previously closed at $96.01.

A number of equities analysts have commented on the company. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Barrington Research reduced their target price on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Morgan Stanley increased their price target on Varian Medical Systems from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Thursday, July 28th. Citigroup Inc. increased their price target on Varian Medical Systems from $84.00 to $88.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. Finally, Brean Capital increased their price target on Varian Medical Systems from $87.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $89.60.

The firm has a market capitalization of $9.13 billion, a P/E ratio of 24.81 and a beta of 0.76. The firm has a 50-day moving average of $95.35 and a 200 day moving average of $86.10.

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Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.05. Varian Medical Systems had a return on equity of 25.01% and a net margin of 12.28%. The company had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that Varian Medical Systems Inc. will post $4.64 EPS for the current fiscal year.

In other news, SVP Clarence R. Verhoef sold 9,483 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $94.88, for a total transaction of $899,747.04. Following the sale, the senior vice president now owns 8,616 shares of the company’s stock, valued at approximately $817,486.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dow R. Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $78.27, for a total value of $782,700.00. Following the sale, the chief executive officer now directly owns 70,598 shares in the company, valued at approximately $5,525,705.46. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Several large investors have recently made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in shares of Varian Medical Systems by 35.3% in the second quarter. First Eagle Investment Management LLC now owns 4,325,749 shares of the company’s stock valued at $355,706,000 after buying an additional 1,128,626 shares during the period. Norges Bank purchased a new stake in shares of Varian Medical Systems during the fourth quarter valued at approximately $71,418,000. Emerald Acquisition Ltd. purchased a new stake in shares of Varian Medical Systems during the second quarter valued at approximately $43,974,000. Loomis Sayles & Co. L P raised its stake in shares of Varian Medical Systems by 8.7% in the second quarter. Loomis Sayles & Co. L P now owns 5,903,578 shares of the company’s stock valued at $485,451,000 after buying an additional 474,506 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Varian Medical Systems by 287.4% in the second quarter. Nordea Investment Management AB now owns 590,879 shares of the company’s stock valued at $48,588,000 after buying an additional 438,348 shares during the period. 99.65% of the stock is currently owned by institutional investors and hedge funds.

About Varian Medical Systems

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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.

5 Day Chart for NYSE:VAR

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