Varian Medical Systems, Inc. (VAR) Receives Average Rating of “Hold” from Analysts

Shares of Varian Medical Systems, Inc. (NYSE:VAR) have been given an average rating of “Hold” by the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $92.70.

VAR has been the subject of several research analyst reports. BidaskClub downgraded Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reissued a “hold” rating and issued a $100.00 price objective on shares of Varian Medical Systems in a research note on Friday, September 1st. BTIG Research downgraded Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Robert W. Baird reissued a “hold” rating and issued a $99.00 price objective on shares of Varian Medical Systems in a research note on Monday, August 28th. Finally, Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th.

In other news, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the completion of the sale, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $7,895,440.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Andrew Eckert sold 5,651 shares of the firm’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $102.39, for a total value of $578,605.89. The disclosure for this sale can be found here. Insiders have sold a total of 56,887 shares of company stock valued at $5,790,308 over the last ninety days. Company insiders own 0.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Eagle Ridge Investment Management raised its stake in shares of Varian Medical Systems by 1.6% in the 3rd quarter. Eagle Ridge Investment Management now owns 63,345 shares of the medical equipment provider’s stock valued at $6,338,000 after acquiring an additional 981 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of Varian Medical Systems by 3.8% in the 3rd quarter. Calamos Advisors LLC now owns 38,715 shares of the medical equipment provider’s stock valued at $3,874,000 after acquiring an additional 1,420 shares in the last quarter. Parsec Financial Management Inc. bought a new position in shares of Varian Medical Systems in the 3rd quarter valued at approximately $1,448,000. North Star Asset Management Inc. raised its stake in shares of Varian Medical Systems by 15.2% in the 3rd quarter. North Star Asset Management Inc. now owns 5,300 shares of the medical equipment provider’s stock valued at $483,000 after acquiring an additional 700 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Varian Medical Systems by 8.3% in the 3rd quarter. Aperio Group LLC now owns 93,773 shares of the medical equipment provider’s stock valued at $9,383,000 after acquiring an additional 7,155 shares in the last quarter. 99.32% of the stock is currently owned by institutional investors and hedge funds.

Varian Medical Systems (VAR) opened at 104.41 on Friday. The firm has a market cap of $9.58 billion, a P/E ratio of 34.37 and a beta of 0.56. Varian Medical Systems has a 1-year low of $75.20 and a 1-year high of $108.78. The stock’s 50 day moving average is $104.28 and its 200-day moving average is $100.27.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.10). The business had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Analysts forecast that Varian Medical Systems will post $3.93 EPS for the current year.

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Varian Medical Systems Company Profile

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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