Varian Medical Systems, Inc. (NYSE:VAR) has been given an average rating of “Hold” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $97.42.

Several research analysts have recently issued reports on the stock. Citigroup Inc. raised their target price on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday. BidaskClub upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird restated a “neutral” rating and issued a $99.00 target price (up previously from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Finally, Zacks Investment Research cut shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th.

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Shares of Varian Medical Systems (NYSE:VAR) traded down 2.66% on Friday, hitting $103.52. 876,779 shares of the stock were exchanged. Varian Medical Systems has a 52-week low of $75.20 and a 52-week high of $108.78. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 34.08 and a beta of 0.57. The company has a 50 day moving average of $104.24 and a 200 day moving average of $100.42.

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

In related news, Director R Andrew Eckert sold 5,651 shares of Varian Medical Systems stock in a transaction on Friday, October 6th. The shares were sold at an average price of $102.39, for a total value of $578,605.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction on Monday, August 14th. The shares were sold at an average price of $97.91, for a total transaction of $106,526.08. Following the completion of the sale, the executive vice president now owns 26,600 shares in the company, valued at approximately $2,604,406. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,887 shares of company stock worth $5,790,308. 0.91% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in VAR. Manchester Capital Management LLC boosted its holdings in Varian Medical Systems by 16.5% in the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after acquiring an additional 150 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Varian Medical Systems by 10.1% in the second quarter. Parallel Advisors LLC now owns 1,357 shares of the medical equipment provider’s stock valued at $132,000 after acquiring an additional 125 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Varian Medical Systems by 13.0% in the second quarter. Penserra Capital Management LLC now owns 1,820 shares of the medical equipment provider’s stock valued at $187,000 after acquiring an additional 210 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Varian Medical Systems by 0.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after acquiring an additional 11 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Varian Medical Systems by 8.0% in the second quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock valued at $202,000 after acquiring an additional 145 shares in the last quarter. 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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