Robert W. Baird Reaffirms Hold Rating for Varian Medical Systems, Inc. (VAR)

Robert W. Baird reaffirmed their hold rating on shares of Varian Medical Systems, Inc. (NYSE:VAR) in a report published on Monday, August 28th. The firm currently has a $99.00 price target on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. BidaskClub upgraded Varian Medical Systems from a buy rating to a strong-buy rating in a report on Thursday, June 22nd. Aegis restated a hold rating and issued a $91.00 target price on shares of Varian Medical Systems in a report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) initiated coverage on Varian Medical Systems in a research report on Tuesday, May 16th. They issued a neutral rating and a $92.00 target price for the company. BTIG Research raised Varian Medical Systems from a neutral rating to a buy rating and set a $106.00 target price for the company in a research report on Monday, May 8th. Finally, Citigroup Inc. raised Varian Medical Systems from a neutral rating to a buy rating in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Varian Medical Systems presently has a consensus rating of Hold and a consensus target price of $97.39.

Shares of Varian Medical Systems (VAR) traded down 1.43% during midday trading on Monday, hitting $106.33. 989,902 shares of the stock were exchanged. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 35.00 and a beta of 0.58. The firm has a 50 day moving average of $101.57 and a 200-day moving average of $97.37. Varian Medical Systems has a one year low of $75.20 and a one year high of $107.87.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. The business had revenue of $662.40 million for the quarter, compared to analysts’ expectations of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. Equities analysts expect that Varian Medical Systems will post $3.93 EPS for the current year.

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In related news, SVP John W. Kuo sold 1,597 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $104.43, for a total transaction of $166,774.71. Following the transaction, the senior vice president now directly owns 28,224 shares in the company, valued at $2,947,432.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kolleen T. Kennedy sold 933 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $107.29, for a total value of $100,101.57. Following the transaction, the executive vice president now owns 27,533 shares in the company, valued at $2,954,015.57. The disclosure for this sale can be found here. Insiders sold 80,879 shares of company stock worth $8,340,117 over the last quarter. 0.91% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. boosted its holdings in Varian Medical Systems by 2.3% during the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 25 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Varian Medical Systems by 16.5% during the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Varian Medical Systems by 16.7% during the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 176 shares in the last quarter. Heritage Trust Co acquired a new stake in Varian Medical Systems during the first quarter valued at approximately $118,000. Finally, Penserra Capital Management LLC boosted its holdings in Varian Medical Systems by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock valued at $146,000 after purchasing an additional 140 shares in the last quarter. 99.64% of the stock is currently owned by institutional investors.

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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