Varian Medical Systems, Inc. (NYSE:VAR)‘s stock had its “hold” rating reaffirmed by equities research analysts at Aegis in a research report issued on Wednesday. They presently have a $91.00 price objective on the medical equipment provider’s stock. Aegis’ price objective would suggest a potential downside of 4.32% from the company’s current price.

Several other analysts have also recently issued reports on VAR. Goldman Sachs Group Inc began coverage on Varian Medical Systems in a research report on Tuesday. They set a “neutral” rating and a $92.00 target price for the company. Citigroup Inc upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday. Jefferies Group LLC restated a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Barrington Research cut Varian Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, April 27th. Finally, TheStreet cut Varian Medical Systems from a “b-” rating to a “c” rating in a report on Wednesday, February 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $93.54.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

Shares of Varian Medical Systems (NYSE:VAR) traded down 0.88% during mid-day trading on Wednesday, hitting $95.11. The stock had a trading volume of 734,563 shares. The company has a market cap of $8.85 billion, a PE ratio of 30.69 and a beta of 0.69. The stock’s 50-day moving average is $91.58 and its 200 day moving average is $88.90. Varian Medical Systems has a 12 month low of $68.08 and a 12 month high of $96.94.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Varian Medical Systems had a return on equity of 24.63% and a net margin of 10.35%. The firm had revenue of $655 million during the quarter, compared to analysts’ expectations of $639.26 million. During the same quarter last year, the business posted $1.09 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Varian Medical Systems will post $3.90 earnings per share for the current fiscal year.

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In other news, SVP John W. Kuo sold 10,353 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $84.81, for a total value of $878,037.93. Following the completion of the sale, the senior vice president now directly owns 37,403 shares of the company’s stock, valued at approximately $3,172,148.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John W. Kuo sold 3,876 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $91.75, for a total value of $355,623.00. Following the completion of the sale, the senior vice president now directly owns 30,926 shares of the company’s stock, valued at $2,837,460.50. The disclosure for this sale can be found here. Insiders sold a total of 20,406 shares of company stock valued at $1,796,932 over the last ninety days. Corporate insiders own 0.91% of the company’s stock.

Several large investors have recently bought and sold shares of VAR. BlackRock Inc. raised its stake in Varian Medical Systems by 3,169.5% in the first quarter. BlackRock Inc. now owns 7,899,768 shares of the medical equipment provider’s stock valued at $719,907,000 after buying an additional 7,658,148 shares during the last quarter. Wells Fargo & Company MN raised its stake in Varian Medical Systems by 318.2% in the first quarter. Wells Fargo & Company MN now owns 1,302,180 shares of the medical equipment provider’s stock valued at $118,667,000 after buying an additional 990,791 shares during the last quarter. Norges Bank bought a new stake in Varian Medical Systems during the fourth quarter valued at about $80,996,000. FMR LLC raised its stake in Varian Medical Systems by 324.5% in the first quarter. FMR LLC now owns 1,006,924 shares of the medical equipment provider’s stock valued at $91,760,000 after buying an additional 769,718 shares during the last quarter. Finally, Janus Capital Management LLC raised its stake in Varian Medical Systems by 16.0% in the fourth quarter. Janus Capital Management LLC now owns 3,625,149 shares of the medical equipment provider’s stock valued at $325,474,000 after buying an additional 499,925 shares during the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Varian Medical Systems Company Profile

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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

5 Day Chart for NYSE:VAR

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