Varian Medical Systems (NYSE:VAR) PT Set at $146.00 by Barrington Research

Barrington Research set a $146.00 target price on Varian Medical Systems (NYSE:VAR) in a report published on Monday morning, AnalystRatings.com reports. The brokerage currently has a buy rating on the medical equipment provider’s stock. Barrington Research also issued estimates for Varian Medical Systems’ Q1 2021 earnings at $1.23 EPS, Q2 2021 earnings at $1.30 EPS and Q4 2021 earnings at $1.55 EPS.

Several other research analysts have also recently weighed in on VAR. Robert W. Baird set a $158.00 price objective on shares of Varian Medical Systems and gave the stock a buy rating in a research report on Friday, July 26th. ValuEngine cut shares of Varian Medical Systems from a buy rating to a hold rating in a research report on Tuesday, August 20th. BTIG Research upgraded shares of Varian Medical Systems from a neutral rating to a buy rating and set a $130.00 price objective on the stock in a research report on Monday, October 14th. TheStreet cut shares of Varian Medical Systems from a b rating to a c+ rating in a research report on Monday, August 5th. Finally, Zacks Investment Research cut shares of Varian Medical Systems from a strong-buy rating to a hold rating and set a $139.00 price objective on the stock. in a research report on Saturday, July 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $145.11.

Shares of Varian Medical Systems stock opened at $126.33 on Monday. Varian Medical Systems has a 12-month low of $103.92 and a 12-month high of $142.50. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.74 and a beta of 0.87. The company’s 50-day moving average price is $114.52 and its 200-day moving average price is $124.35.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. Varian Medical Systems had a net margin of 10.75% and a return on equity of 24.91%. The firm had revenue of $878.90 million for the quarter, compared to the consensus estimate of $858.47 million. During the same period in the prior year, the firm posted $1.16 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect that Varian Medical Systems will post 4.63 EPS for the current year.

In other Varian Medical Systems news, SVP John W. Kuo sold 465 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $110.49, for a total transaction of $51,377.85. Following the transaction, the senior vice president now directly owns 35,566 shares in the company, valued at $3,929,687.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 1,395 shares of company stock worth $158,388 over the last quarter. Company insiders own 0.78% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Varian Medical Systems by 1.3% during the second quarter. Vanguard Group Inc. now owns 10,293,841 shares of the medical equipment provider’s stock valued at $1,401,301,000 after purchasing an additional 129,146 shares during the period. BlackRock Inc. boosted its stake in shares of Varian Medical Systems by 4.0% during the second quarter. BlackRock Inc. now owns 8,316,444 shares of the medical equipment provider’s stock valued at $1,132,117,000 after purchasing an additional 319,325 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Varian Medical Systems by 19.7% during the second quarter. Wells Fargo & Company MN now owns 1,889,170 shares of the medical equipment provider’s stock valued at $257,171,000 after purchasing an additional 311,004 shares during the period. Northern Trust Corp boosted its stake in shares of Varian Medical Systems by 0.3% during the second quarter. Northern Trust Corp now owns 1,303,895 shares of the medical equipment provider’s stock valued at $177,499,000 after purchasing an additional 4,225 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Varian Medical Systems by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 1,140,039 shares of the medical equipment provider’s stock valued at $155,193,000 after purchasing an additional 49,376 shares during the period. Institutional investors and hedge funds own 91.32% of the company’s stock.

About Varian Medical Systems

Varian Medical Systems, Inc designs, manufactures, sells, and services medical devices and software products for treating cancer and other medical conditions worldwide. It operates through two segments, Oncology Systems and Proton Solutions. The Oncology Systems segment offers hardware and software products for treating cancer with radiotherapy, fixed field intensity-modulated radiation therapy, image-guided radiation therapy, volumetric modulated arc therapy, stereotactic radiosurgery, stereotactic body radiotherapy, and brachytherapy, as well as related quality assurance equipment.

Featured Story: Book Value Per Share – BVPS

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

Receive News & Ratings for Varian Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.