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 recommendation of “Hold” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $101.33.

Several equities analysts recently weighed in on VAR shares. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Royal Bank of Canada set a $105.00 price objective on shares of Varian Medical Systems and gave the stock a “hold” rating in a report on Thursday, November 30th. Citigroup boosted their price objective on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Finally, Evercore ISI assumed coverage on shares of Varian Medical Systems in a report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 price objective on the stock.

Varian Medical Systems (VAR) opened at $112.93 on Wednesday. The firm has a market cap of $10,350.00, a price-to-earnings ratio of 40.92, a P/E/G ratio of 3.26 and a beta of 0.68. Varian Medical Systems has a 1-year low of $76.94 and a 1-year high of $114.09.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). The business had revenue of $739.00 million for the quarter, compared to analyst estimates of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. research analysts forecast that Varian Medical Systems will post 4.25 earnings per share for the current year.

In other news, EVP Kolleen T. Kennedy sold 2,018 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $111.97, for a total value of $225,955.46. Following the sale, the executive vice president now owns 27,749 shares in the company, valued at approximately $3,107,055.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy E. Guertin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $111.46, for a total transaction of $1,114,600.00. Following the completion of the sale, the director now owns 2,161 shares in the company, valued at approximately $240,865.06. The disclosure for this sale can be found here. Insiders sold a total of 104,824 shares of company stock worth $11,618,797 in the last quarter. 0.78% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of VAR. Janus Henderson Group PLC raised its stake in shares of Varian Medical Systems by 1,545.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock valued at $387,450,000 after purchasing an additional 3,526,571 shares in the last quarter. Koch Industries Inc. raised its stake in shares of Varian Medical Systems by 57,988.4% in the 2nd quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after purchasing an additional 1,325,615 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Varian Medical Systems by 106.1% in the 3rd quarter. APG Asset Management N.V. now owns 1,669,419 shares of the medical equipment provider’s stock valued at $167,042,000 after purchasing an additional 859,400 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Varian Medical Systems in the 2nd quarter valued at about $77,323,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in shares of Varian Medical Systems by 431.0% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 812,983 shares of the medical equipment provider’s stock valued at $81,347,000 after purchasing an additional 659,868 shares in the last quarter. Institutional investors and hedge funds own 99.10% of the company’s stock.

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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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