Varian Medical Systems Inc. (NYSE:VAR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.60 and last traded at $95.22, with a volume of 138,487 shares trading hands. The stock had previously closed at $95.22.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Barrington Research lowered their price objective on Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Morgan Stanley raised their price objective on Varian Medical Systems from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Citigroup Inc. raised their price objective on Varian Medical Systems from $84.00 to $88.00 and gave the company a “neutral” rating in a research note on Thursday, July 28th. Finally, Brean Capital raised their price objective on Varian Medical Systems from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $89.60.

The stock has a market cap of $8.88 billion and a P/E ratio of 24.15. The company has a 50-day moving average of $90.43 and a 200-day moving average of $83.39.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.05. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The company had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. The company’s revenue for the quarter was up .7% on a year-over-year basis. Analysts predict that Varian Medical Systems Inc. will post $4.65 earnings per share for the current fiscal year.

In other news, Director Ruediger Naumann-Etienne sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $84.83, for a total transaction of $84,830.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dow R. Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $78.27, for a total value of $782,700.00. Following the transaction, the chief executive officer now owns 70,598 shares in the company, valued at $5,525,705.46. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Varian Medical Systems by 25.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 29,675 shares of the company’s stock valued at $2,398,000 after buying an additional 6,000 shares in the last quarter. KBC Group NV boosted its position in shares of Varian Medical Systems by 37.5% in the fourth quarter. KBC Group NV now owns 32,135 shares of the company’s stock valued at $2,597,000 after buying an additional 8,762 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Varian Medical Systems by 15.3% in the fourth quarter. BlackRock Advisors LLC now owns 205,640 shares of the company’s stock valued at $16,615,000 after buying an additional 27,286 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Varian Medical Systems by 118.7% in the fourth quarter. Wells Fargo & Company MN now owns 254,634 shares of the company’s stock valued at $20,575,000 after buying an additional 138,179 shares in the last quarter.

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. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.