Varian Medical Systems (NYSE:VAR) had its target price lifted by analysts at JPMorgan Chase & Co. from $88.00 to $105.00 in a research note issued on Thursday. The firm currently has a “neutral” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.’s price target points to a potential downside of 7.12% from the stock’s previous close.
A number of other brokerages also recently commented on VAR. Zacks Investment Research downgraded Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Citigroup boosted their price objective on Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Evercore ISI initiated coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price objective for the company. BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research report on Sunday, October 29th. Finally, Barrington Research raised Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $105.80.
Shares of Varian Medical Systems (VAR) traded up $2.24 during trading on Thursday, hitting $113.05. The stock had a trading volume of 1,190,800 shares, compared to its average volume of 764,838. Varian Medical Systems has a 1-year low of $76.94 and a 1-year high of $114.09. The firm has a market capitalization of $11,360.00, a P/E ratio of 40.96, a PEG ratio of 3.37 and a beta of 0.68.
In other news, SVP John W. Kuo sold 863 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $108.43, for a total value of $93,575.09. Following the completion of the sale, the senior vice president now directly owns 28,224 shares of the company’s stock, valued at $3,060,328.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kolleen T. Kennedy sold 2,021 shares of the 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 completion of the sale, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at $2,962,599.20. The disclosure for this sale can be found here. Insiders sold 113,681 shares of company stock valued at $12,607,207 over the last ninety days. 0.78% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of VAR. Janus Henderson Group PLC boosted its holdings in shares of 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 acquiring an additional 3,526,571 shares during the period. Koch Industries Inc. boosted its holdings in shares of Varian Medical Systems by 57,988.4% in 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 period. APG Asset Management N.V. boosted its holdings in shares of Varian Medical Systems by 106.1% in 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 period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Varian Medical Systems in the second quarter valued at approximately $77,323,000. Finally, Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Varian Medical Systems by 431.0% in 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 period. 99.14% of the stock is owned by institutional investors and hedge funds.
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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.
