Varian Medical Systems (NYSE:VAR) had its price objective lifted by stock analysts at Citigroup from $128.00 to $132.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Citigroup’s price objective indicates a potential upside of 16.76% from the company’s previous close.
Several other analysts have also issued reports on the stock. Royal Bank of Canada increased their price target on shares of Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday. Goldman Sachs Group lowered shares of Varian Medical Systems from a “neutral” rating to a “sell” rating in a research report on Thursday. Evercore ISI began coverage on shares of Varian Medical Systems in a research report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price target on the stock. BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Finally, Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Varian Medical Systems has an average rating of “Hold” and a consensus price target of $102.78.
Varian Medical Systems (NYSE:VAR) opened at $113.05 on Thursday. Varian Medical Systems has a 52-week low of $76.94 and a 52-week high of $114.09. The stock has a market cap of $10,152.07, a P/E ratio of 42.03, a price-to-earnings-growth ratio of 3.37 and a beta of 0.67.
In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 2,021 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $107.36, for a total value of $216,974.56. Following the sale, the executive vice president now owns 27,595 shares in the company, valued at $2,962,599.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John W. Kuo sold 7,991 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $110.65, for a total transaction of $884,204.15. Following the completion of the sale, the senior vice president now owns 27,363 shares in the company, valued at approximately $3,027,715.95. The disclosure for this sale can be found here. Insiders sold 113,681 shares of company stock worth $12,607,207 in the last 90 days. Company insiders own 0.78% of the company’s stock.
A number of institutional investors have recently modified their holdings of VAR. Janus Henderson Group PLC boosted its position in Varian Medical Systems by 1,545.7% in the second quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock valued at $387,450,000 after buying an additional 3,526,571 shares in the last quarter. Koch Industries Inc. raised its stake in shares of Varian Medical Systems by 57,988.4% during the second quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after acquiring an additional 1,325,615 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of Varian Medical Systems by 106.1% during the third quarter. APG Asset Management N.V. now owns 1,669,419 shares of the medical equipment provider’s stock valued at $167,042,000 after acquiring an additional 859,400 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Varian Medical Systems during the second quarter valued at $77,323,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Varian Medical Systems by 431.0% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 812,983 shares of the medical equipment provider’s stock valued at $81,347,000 after acquiring an additional 659,868 shares during the last quarter. Hedge funds and other institutional investors own 99.14% of the company’s stock.
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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.
