Varian Medical Systems, Inc. (VAR) Earns Hold Rating from BTIG Research

BTIG Research restated their hold rating on shares of Varian Medical Systems, Inc. (NYSE:VAR) in a research report released on Sunday, October 29th.

Several other equities analysts have also weighed in on VAR. BidaskClub upgraded shares of Varian Medical Systems from a sell rating to a hold rating in a report on Saturday, August 12th. Robert W. Baird restated a neutral rating and issued a $99.00 price objective (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Zacks Investment Research lowered shares of Varian Medical Systems from a buy rating to a hold rating in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $100.00 target price on shares of Varian Medical Systems in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $97.83.

Shares of Varian Medical Systems (NYSE VAR) opened at $109.34 on Friday. Varian Medical Systems has a 52 week low of $76.94 and a 52 week high of $109.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 1.41. The company has a market cap of $9,936.53, a P/E ratio of 28.71, a PEG ratio of 3.18 and a beta of 0.65.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company had revenue of $739.00 million for the quarter, compared to the consensus estimate of $741.69 million. During the same period last year, the company earned $1.03 earnings per share. Varian Medical Systems’s revenue for the quarter was down 1.1% compared to the same quarter last year. analysts anticipate that Varian Medical Systems will post 4.26 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This article was first published by Week Herald and is the sole property of of Week Herald. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://weekherald.com/2017/11/15/varian-medical-systems-inc-var-given-hold-rating-at-btig-research.html.

In other news, insider Dow R. Wilson sold 15,059 shares of Varian Medical Systems stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $105.41, for a total value of $1,587,369.19. Following the completion of the transaction, the insider now owns 81,835 shares of the company’s stock, valued at approximately $8,626,227.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kolleen T. Kennedy sold 2,021 shares of Varian Medical Systems stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $107.36, for a total transaction of $216,974.56. Following the completion of the transaction, the executive vice president now directly owns 27,595 shares of the company’s stock, valued at approximately $2,962,599.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,761 shares of company stock valued at $4,447,864. 0.91% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Varian Medical Systems by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after purchasing an additional 150,482 shares in the last quarter. BlackRock Inc. raised its position in shares of Varian Medical Systems by 6.6% in the 2nd quarter. BlackRock Inc. now owns 8,423,626 shares of the medical equipment provider’s stock valued at $869,233,000 after buying an additional 523,858 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Varian Medical Systems by 2.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock valued at $478,161,000 after purchasing an additional 99,270 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Varian Medical Systems by 1,545.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,754,727 shares of the medical equipment provider’s stock valued at $387,450,000 after purchasing an additional 3,526,571 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Varian Medical Systems by 12.0% during the 2nd quarter. Fiera Capital Corp now owns 2,519,976 shares of the medical equipment provider’s stock valued at $260,037,000 after purchasing an additional 269,633 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

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)

Receive News & Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply