Varian Medical Systems (NYSE:VAR) was upgraded by Barrington Research from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $130.00 price objective on the medical equipment provider’s stock. Barrington Research’s target price would suggest a potential upside of 2.35% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Citigroup raised their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada raised their price objective on Varian Medical Systems to $115.00 and gave the stock a “sector perform” rating in a report on Thursday. Goldman Sachs Group cut Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 price objective on the stock. in a report on Thursday. Evercore ISI began coverage on Varian Medical Systems in a report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 target price on the stock. Finally, BTIG Research reiterated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Varian Medical Systems has a consensus rating of “Hold” and an average price target of $106.40.
Varian Medical Systems (VAR) traded up $13.96 during mid-day trading on Thursday, hitting $127.01. The stock had a trading volume of 4,642,033 shares, compared to its average volume of 992,929. Varian Medical Systems has a 1-year low of $76.94 and a 1-year high of $129.05. The firm has a market capitalization of $11,640.00, a PE ratio of 46.02, a price-to-earnings-growth ratio of 3.37 and a beta of 0.68.
In related news, SVP John W. Kuo sold 7,991 shares of Varian Medical Systems stock in a transaction on Monday, January 8th. The stock was sold at an average price of $110.65, for a total value of $884,204.15. Following the transaction, the senior vice president now owns 27,363 shares in the company, valued at $3,027,715.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kolleen T. Kennedy sold 2,021 shares of Varian Medical Systems stock in a transaction 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 transaction, the executive vice president now owns 27,595 shares in the company, valued at approximately $2,962,599.20. The disclosure for this sale can be found here. Insiders sold 113,681 shares of company stock worth $12,607,207 in the last quarter. 0.78% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position 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 purchasing an additional 150,482 shares during the period. First Eagle Investment Management LLC raised its position in Varian Medical Systems by 2.1% in the third quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock valued at $478,161,000 after purchasing an additional 99,270 shares during the period. Janus Henderson Group PLC raised 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 purchasing an additional 3,526,571 shares during the period. APG Asset Management N.V. raised its position in Varian Medical Systems by 6.7% in the fourth quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock valued at $164,846,000 after purchasing an additional 111,482 shares during the period. Finally, Koch Industries Inc. raised its position in 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 purchasing an additional 1,325,615 shares during the period. 99.14% of the stock is currently owned by institutional investors.
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.
