Varian Medical Systems (NYSE:VAR) has been assigned a $105.00 price objective by Royal Bank Of Canada in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the medical equipment provider’s stock. Royal Bank Of Canada’s target price points to a potential downside of 5.59% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. BTIG Research downgraded Varian Medical Systems from a “buy” rating to a “neutral” rating in a report on Thursday, September 7th. They noted that the move was a valuation call. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Citigroup increased their price objective on Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Robert W. Baird reiterated a “hold” rating and issued a $99.00 price objective on shares of Varian Medical Systems in a report on Monday, August 28th. Finally, Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $98.39.

Varian Medical Systems (VAR) traded up $1.69 on Thursday, reaching $111.22. The company’s stock had a trading volume of 610,800 shares, compared to its average volume of 863,934. The company has a market capitalization of $10,034.80, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 3.22 and a beta of 0.65. Varian Medical Systems has a twelve month low of $76.94 and a twelve month high of $111.43.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The firm had revenue of $739.00 million during the quarter, compared to the consensus estimate of $741.69 million. Varian Medical Systems had a return on equity of 23.68% and a net margin of 8.85%. Varian Medical Systems’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. sell-side analysts anticipate that Varian Medical Systems will post 4.26 EPS for the current fiscal year.

In related news, EVP Kolleen T. Kennedy sold 2,021 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $107.36, for a total transaction of $216,974.56. Following the sale, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at $2,962,599.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kolleen T. Kennedy sold 931 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $105.00, for a total value of $97,755.00. Following the sale, the executive vice president now directly owns 27,531 shares in the company, valued at $2,890,755. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,830 shares of company stock worth $4,350,109. Insiders own 0.91% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 worth $944,980,000 after purchasing an additional 150,482 shares during the last quarter. BlackRock Inc. boosted its position in Varian Medical Systems by 6.6% in the second quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock worth $869,233,000 after purchasing an additional 523,858 shares during the last quarter. First Eagle Investment Management LLC boosted 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 worth $478,161,000 after purchasing an additional 99,270 shares during the last quarter. Janus Henderson Group PLC boosted 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 worth $387,450,000 after purchasing an additional 3,526,571 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in Varian Medical Systems by 12.0% in the second quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock worth $260,037,000 after purchasing an additional 269,633 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

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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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