Varian Medical Systems, Inc. (NYSE:VAR) Receives Average Recommendation of “Buy” from Analysts

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Varian Medical Systems, Inc. (NYSE:VAR) has been given a consensus rating of “Buy” by the eleven analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $145.33.

A number of equities research analysts recently commented on VAR shares. ValuEngine lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Monday, October 14th. Robert W. Baird restated a “buy” rating and set a $158.00 price target on shares of Varian Medical Systems in a research report on Monday, November 18th. UBS Group increased their price target on Varian Medical Systems from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Barrington Research increased their price target on Varian Medical Systems from $146.00 to $152.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th.

In other Varian Medical Systems news, insider Kolleen T. Kennedy sold 4,969 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $128.00, for a total value of $636,032.00. Following the transaction, the insider now directly owns 29,915 shares in the company, valued at approximately $3,829,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John W. Kuo sold 465 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $128.02, for a total value of $59,529.30. Following the completion of the transaction, the senior vice president now owns 35,568 shares in the company, valued at $4,553,415.36. The disclosure for this sale can be found here. Insiders sold a total of 6,364 shares of company stock worth $802,572 over the last quarter. Corporate insiders own 0.74% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sepio Capital LLC boosted its position in shares of Varian Medical Systems by 0.4% in the 2nd quarter. Sepio Capital LLC now owns 21,692 shares of the medical equipment provider’s stock worth $2,953,000 after purchasing an additional 89 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Varian Medical Systems by 0.8% in the 3rd quarter. Whittier Trust Co. now owns 12,303 shares of the medical equipment provider’s stock worth $1,465,000 after purchasing an additional 93 shares during the last quarter. Permanens Capital L.P. boosted its position in shares of Varian Medical Systems by 50.0% in the 2nd quarter. Permanens Capital L.P. now owns 300 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Varian Medical Systems by 11.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 970 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Varian Medical Systems by 0.5% in the 3rd quarter. State of Michigan Retirement System now owns 21,854 shares of the medical equipment provider’s stock worth $2,603,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

NYSE VAR opened at $139.01 on Wednesday. The firm has a market cap of $12.59 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 3.22 and a beta of 0.89. Varian Medical Systems has a one year low of $103.92 and a one year high of $142.50. The stock’s 50 day simple moving average is $128.22 and its 200 day simple moving average is $123.01.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.21. The business had revenue of $878.90 million for the quarter, compared to analyst estimates of $858.47 million. Varian Medical Systems had a return on equity of 24.48% and a net margin of 9.65%. Varian Medical Systems’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 EPS. On average, research analysts anticipate that Varian Medical Systems will post 5.39 earnings per share for the current year.

Varian Medical Systems Company Profile

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.

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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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