Varian Medical Systems Inc. (NYSE:VAR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.95 and last traded at $96.10, with a volume of 246,951 shares trading hands. The stock had previously closed at $96.41.

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Varian Medical Systems from $80.00 to $86.00 and gave the stock an “underweight” rating in a research note on Thursday, July 28th. Brean Capital upped their target price on Varian Medical Systems from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Barrington Research cut their target price 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. Finally, BTIG Research restated 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 assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $89.60.

The firm’s 50 day moving average price is $92.99 and its 200-day moving average price is $84.51. The company has a market capitalization of $8.99 billion and a price-to-earnings ratio of 24.42.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, July 27th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The business earned $789.40 million during the quarter, compared to analysts’ expectations of $779.90 million. The firm’s quarterly revenue was up .7% on a year-over-year basis. Analysts anticipate that Varian Medical Systems Inc. will post $4.64 EPS for the current fiscal year.

In related news, insider Dow R. Wilson sold 10,000 shares of Varian Medical Systems stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $95.14, for a total value of $951,400.00. Following the completion of the transaction, the insider now directly owns 70,598 shares in the company, valued at approximately $6,716,693.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Clarence R. Verhoef sold 9,483 shares of Varian Medical Systems stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $94.88, for a total transaction of $899,747.04. Following the completion of the transaction, the senior vice president now owns 8,616 shares of the company’s stock, valued at $817,486.08. The disclosure for this sale can be found here.

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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