Varian Medical Systems, Inc. (VAR) Lowered to “Neutral” at BTIG Research

Varian Medical Systems, Inc. (NYSE:VAR) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Thursday, September 7th, MarketBeat.com reports. The analysts noted that the move was a valuation call.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $100.00 price target on shares of Varian Medical Systems in a research report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and set a $99.00 price target on shares of Varian Medical Systems in a research report on Monday, August 28th. BidaskClub upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Varian Medical Systems presently has a consensus rating of “Hold” and an average price target of $97.39.

Shares of Varian Medical Systems (NYSE:VAR) opened at 106.33 on Thursday. The firm’s 50-day moving average price is $101.57 and its 200-day moving average price is $97.37. Varian Medical Systems has a 12-month low of $75.20 and a 12-month high of $107.87. The firm has a market capitalization of $9.76 billion, a P/E ratio of 35.00 and a beta of 0.58.

Varian Medical Systems (NYSE:VAR) last announced 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 firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. Equities analysts predict that Varian Medical Systems will post $3.93 earnings per share for the current fiscal year.

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In related news, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction on Monday, August 7th. The shares were sold at an average price of $96.48, for a total transaction of $1,452,892.32. Following the completion of the transaction, the insider now owns 81,835 shares of the company’s stock, valued at $7,895,440.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John W. Kuo sold 1,597 shares of Varian Medical Systems stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $104.43, for a total transaction of $166,774.71. Following the completion of the sale, the senior vice president now directly owns 28,224 shares of the company’s stock, valued at $2,947,432.32. The disclosure for this sale can be found here. Insiders have sold 80,879 shares of company stock valued at $8,340,117 in the last three months. 0.91% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of Varian Medical Systems by 0.4% during the second quarter. Park Avenue Securities LLC now owns 2,276 shares of the medical equipment provider’s stock valued at $234,000 after buying an additional 9 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Varian Medical Systems by 0.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock valued at $197,000 after buying an additional 11 shares during the last quarter. First Mercantile Trust Co. grew its holdings in shares of 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 buying an additional 25 shares during the last quarter. Cleararc Capital Inc. grew its holdings in shares of Varian Medical Systems by 1.1% during the first quarter. Cleararc Capital Inc. now owns 2,298 shares of the medical equipment provider’s stock valued at $209,000 after buying an additional 26 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Varian Medical Systems by 0.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,622 shares of the medical equipment provider’s stock worth $330,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.

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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