TheStreet Lowers Varian Medical Systems (VAR) to C

TheStreet lowered shares of Varian Medical Systems (NYSE:VAR) from a b+ rating to a c rating in a research report report published on Monday morning.

Several other equities research analysts have also recently weighed in on VAR. Zacks Investment Research cut Varian Medical Systems from a hold rating to a sell rating in a report on Friday, October 27th. BTIG Research reiterated a hold rating on shares of Varian Medical Systems in a report on Sunday, October 29th. Citigroup upped their target price on Varian Medical Systems from $119.00 to $121.00 and gave the stock a neutral rating in a report on Monday, October 30th. Royal Bank of Canada set a $105.00 target price on Varian Medical Systems and gave the stock a hold rating in a report on Thursday, November 30th. Finally, Evercore ISI started coverage on Varian Medical Systems in a report on Wednesday, January 3rd. They issued an underperform rating and a $100.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $108.44.

Shares of Varian Medical Systems (NYSE:VAR) opened at $119.53 on Monday. Varian Medical Systems has a 1-year low of $79.86 and a 1-year high of $130.29. The firm has a market capitalization of $10,950.00, a price-to-earnings ratio of 85.99, a price-to-earnings-growth ratio of 3.39 and a beta of 0.81.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The business had revenue of $678.50 million during the quarter, compared to analysts’ expectations of $633.96 million. During the same period in the prior year, the business earned $1.09 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. analysts expect that Varian Medical Systems will post 4.31 EPS for the current year.

In related news, SVP John W. Kuo sold 863 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $108.43, for a total transaction of $93,575.09. Following the completion of the sale, the senior vice president now directly owns 28,224 shares in the company, valued at approximately $3,060,328.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dow R. Wilson sold 88,766 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $111.00, for a total value of $9,853,026.00. Following the sale, the insider now owns 155,542 shares of the company’s stock, valued at $17,265,162. The disclosure for this sale can be found here. Insiders have sold a total of 146,211 shares of company stock valued at $16,683,318 over the last 90 days. 0.78% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. WASHINGTON TRUST Co raised its stake in Varian Medical Systems by 100.0% in the fourth quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 485 shares during the last quarter. Advisory Services Network LLC raised its stake in Varian Medical Systems by 3,418.8% in the fourth quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock valued at $188,000 after buying an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp raised its stake in Varian Medical Systems by 45.2% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock valued at $190,000 after buying an additional 533 shares during the last quarter. Catawba Capital Management VA purchased a new stake in Varian Medical Systems in the fourth quarter valued at about $210,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Varian Medical Systems by 27.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock valued at $218,000 after buying an additional 427 shares during the last quarter. Institutional investors own 99.19% of the company’s stock.

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About Varian Medical Systems

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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