Shares of Varian Medical Systems Inc. (NYSE:VAR) reached a new 52-week high on Monday . The company traded as high as $96.09 and last traded at $96.06, with a volume of 118,867 shares trading hands. The stock had previously closed at $95.37.

VAR has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Varian Medical Systems from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Brean Capital upped their target price on shares of Varian Medical Systems from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Barrington Research lowered their target price on shares of Varian Medical Systems from $102.00 to $93.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $89.60.

The stock has a 50-day moving average price of $91.57 and a 200 day moving average price of $83.85. The company has a market cap of $8.98 billion and a P/E ratio of 24.395.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. Equities research analysts anticipate that Varian Medical Systems Inc. will post $4.64 EPS for the current fiscal year.

In related news, Director Timothy E. Guertin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $94.88, for a total transaction of $379,520.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dow R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $95.14, for a total transaction of $951,400.00. Following the transaction, the insider now directly owns 70,598 shares in the company, valued at $6,716,693.72. The disclosure for this sale can be found here.

Other institutional investors have added to or reduced their stakes in the company. KBC Group NV raised its position in Varian Medical Systems by 37.5% in the fourth quarter. KBC Group NV now owns 32,135 shares of the company’s stock worth $2,597,000 after buying an additional 8,762 shares in the last quarter. BlackRock Advisors LLC raised its position in Varian Medical Systems by 15.3% in the fourth quarter. BlackRock Advisors LLC now owns 205,640 shares of the company’s stock worth $16,615,000 after buying an additional 27,286 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Varian Medical Systems by 11.5% in the fourth quarter. Ameriprise Financial Inc. now owns 992,652 shares of the company’s stock worth $80,205,000 after buying an additional 102,316 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.

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