Varian Medical Systems, Inc. (NYSE:VAR) had its target price lifted by equities research analysts at Citigroup Inc. from $119.00 to $121.00 in a research note issued on Monday. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 13.78% from the company’s previous close.

Other equities analysts have also issued reports about the stock. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a report on Sunday. BidaskClub raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird reissued a “neutral” rating and issued a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $97.83.

Varian Medical Systems (VAR) traded down 2.68% during trading on Monday, reaching $103.50. 569,923 shares of the company’s stock were exchanged. Varian Medical Systems has a 52-week low of $75.20 and a 52-week high of $108.78. The firm has a market cap of $9.50 billion, a P/E ratio of 34.07 and a beta of 0.57. The stock’s 50 day moving average price is $104.24 and its 200 day moving average price is $100.42.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $741.69 million. During the same period in the prior year, the business earned $1.03 earnings per share. Varian Medical Systems’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Varian Medical Systems will post $4.35 EPS for the current fiscal year.

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In related news, Director R Andrew Eckert sold 5,651 shares of Varian Medical Systems stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $102.39, for a total transaction of $578,605.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the sale, the insider now owns 81,835 shares in the company, valued at $7,895,440.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,887 shares of company stock worth $5,790,308. 0.91% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Varian Medical Systems by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after buying an additional 150,482 shares during the period. BlackRock Inc. boosted its position in Varian Medical Systems by 6.6% during the 2nd quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock worth $869,233,000 after buying an additional 523,858 shares during the period. First Eagle Investment Management LLC boosted its position in Varian Medical Systems by 0.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock worth $482,875,000 after buying an additional 38,005 shares during the period. Janus Henderson Group PLC boosted its position in Varian Medical Systems by 1,545.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock worth $387,450,000 after buying an additional 3,526,571 shares during the period. Finally, Fiera Capital Corp boosted its position in Varian Medical Systems by 12.0% during the 2nd quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after buying an additional 269,633 shares during the period. Institutional investors and hedge funds own 99.15% 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)

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