Jefferies Maintains Varian Medical Systems to Buy with Price Target $98.00

Brokerage firm Jefferies Maintains its rating on Varian Medical Systems(NYSE:VAR). In a research note issued to the investors, the brokerage major Raises the price-target to $98.00 per share. The shares have been rated Buy. The rating by Jefferies was issued on Jul 28, 2016.

In a different note, On Jul 28, 2016, Citigroup said it Maintains its rating on Varian Medical Systems. In the research note, the firm Raises the price-target to $84.00 per share. The shares have been rated ‘Neutral’ by the firm.

Varian Medical Systems (VAR) made into the market gainers list on Thursdays trading session with the shares advancing 0.18% or 0.17 points. Due to strong positive momentum, the stock ended at $94.82, which is also near the day’s high of $95.21. The stock began the session at $94.63 and the volume stood at 6,48,019 shares. The 52-week high of the shares is $95.38 and the 52 week low is $71.07. The company has a current market capitalization of $9,028 M and it has 9,52,14,552 shares in outstanding.

Varian Medical Systems(VAR) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $789.40M. Analysts had an estimated revenue of $779.90M. Earnings per share were $1.22. Analysts had estimated an EPS of $1.17.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Dow R Wilson (President and CEO) sold 10,000 shares at $82.25 per share price.Also, On Jun 9, 2016, Ruediger Naumann-etienne (director) sold 1,000 shares at $84.83 per share price.On Jun 6, 2016, Mark R Laret (director) sold 1,545 shares at $83.47 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company offers tools for fighting cancer taking X-ray images and protecting ports and borders. The Company’s products include linear accelerators brachytherapy afterloaders treatment simulation and verification equipment accessories information management treatment planning and image processing software. The Company’s customers include university research and community hospitals private and governmental institutions healthcare agencies doctors’ offices and cancer care clinics.

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