Varian Medical Systems, Inc. (NYSE:VAR)‘s stock had its “hold” rating reiterated by equities research analysts at Royal Bank Of Canada in a research report issued on Friday. They presently have a $100.00 target price on the medical equipment provider’s stock. Royal Bank Of Canada’s price target indicates a potential downside of 5.04% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird reiterated a “hold” rating and issued a $99.00 price objective on shares of Varian Medical Systems in a research note on Monday, August 28th. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Aegis reiterated a “hold” rating and issued a $91.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $97.39.

Varian Medical Systems (VAR) opened at 105.31 on Friday. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 34.66 and a beta of 0.58. The company’s 50 day moving average is $101.00 and its 200 day moving average is $95.84. Varian Medical Systems has a 12-month low of $75.20 and a 12-month high of $107.08.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.09. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm had revenue of $662.40 million during the quarter, compared to analysts’ expectations of $663.86 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Varian Medical Systems will post $3.93 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was originally published by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/09/02/varian-medical-systems-inc-var-rating-reiterated-by-royal-bank-of-canada.html.

In other news, Director Timothy E. Guertin sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $103.22, for a total transaction of $1,651,520.00. Following the completion of the sale, the director now owns 2,161 shares in the company, valued at $223,058.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark R. Laret sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $103.47, for a total value of $147,755.16. Following the sale, the director now owns 3,289 shares of the company’s stock, valued at approximately $340,312.83. The disclosure for this sale can be found here. Insiders have sold 83,911 shares of company stock valued at $8,607,331 in the last 90 days. Company insiders own 0.91% of the company’s stock.

Several large investors have recently added to or reduced their stakes in VAR. Vanguard Group Inc. boosted its stake in Varian Medical Systems by 1.7% in the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock valued at $944,980,000 after buying an additional 150,482 shares during the period. BlackRock Inc. boosted its stake in Varian Medical Systems by 6.6% in the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock valued at $869,233,000 after buying an additional 523,858 shares during the period. First Eagle Investment Management LLC boosted its stake in Varian Medical Systems by 0.8% in the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock valued at $482,875,000 after buying an additional 38,005 shares during the period. State Street Corp boosted its stake in Varian Medical Systems by 1.3% in the first quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock valued at $394,109,000 after buying an additional 57,090 shares during the period. Finally, Janus Capital Management LLC boosted its stake in Varian Medical Systems by 8.5% in the first quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock valued at $358,332,000 after buying an additional 306,975 shares during the period. Institutional investors and hedge funds own 99.63% of the company’s stock.

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

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

Receive News & Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.