Varian Medical Systems (NYSE:VAR) Rating Reiterated by BTIG Research

Varian Medical Systems (NYSE:VAR)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued on Friday, The Fly reports. They currently have a $157.00 price objective on the medical equipment provider’s stock. BTIG Research’s target price points to a potential upside of 5.87% from the company’s previous close.

VAR has been the subject of a number of other reports. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating and set a $156.00 price objective for the company in a research note on Monday, January 20th. Evercore ISI raised shares of Varian Medical Systems from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $130.00 to $164.00 in a research note on Thursday, January 2nd. Robert W. Baird reaffirmed a “buy” rating and set a $158.00 price objective on shares of Varian Medical Systems in a research note on Monday, November 18th. UBS Group upped their price objective on shares of Varian Medical Systems from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barrington Research upped their price objective on shares of Varian Medical Systems from $146.00 to $152.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $158.86.

VAR stock opened at $148.29 on Friday. Varian Medical Systems has a one year low of $103.92 and a one year high of $150.06. The firm has a market capitalization of $13.58 billion, a PE ratio of 44.00, a P/E/G ratio of 3.47 and a beta of 0.89. The firm has a 50-day moving average of $144.09 and a two-hundred day moving average of $125.83.

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

In related news, insider Kolleen T. Kennedy sold 4,969 shares of the stock in a transaction that occurred 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 owns 29,915 shares in the company, valued at $3,829,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kolleen T. Kennedy sold 6,106 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $143.28, for a total value of $874,867.68. Following the completion of the transaction, the insider now owns 32,680 shares in the company, valued at approximately $4,682,390.40. The disclosure for this sale can be found here. Insiders sold 18,200 shares of company stock valued at $2,525,045 over the last three months. 0.78% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. grew its holdings in Varian Medical Systems by 75.0% during the second quarter. CSat Investment Advisory L.P. now owns 315 shares of the medical equipment provider’s stock valued at $43,000 after purchasing an additional 135 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in Varian Medical Systems during the third quarter valued at approximately $38,000. Flagship Harbor Advisors LLC grew its holdings in Varian Medical Systems by 51.5% during the third quarter. Flagship Harbor Advisors LLC now owns 359 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 122 shares during the last quarter. FTB Advisors Inc. grew its holdings in Varian Medical Systems by 52.5% during the fourth quarter. FTB Advisors Inc. now owns 482 shares of the medical equipment provider’s stock valued at $68,000 after purchasing an additional 166 shares during the last quarter. Finally, Permanens Capital L.P. grew its holdings in Varian Medical Systems by 66.7% during the third quarter. Permanens Capital L.P. now owns 500 shares of the medical equipment provider’s stock valued at $60,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.

About Varian Medical Systems

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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