Varian Medical Systems (VAR) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Varian Medical Systems (NYSE:VAR) from a neutral rating to an outperform rating in a research report report published on Friday, March 22nd, FlyOnTheWall reports. The firm currently has $162.00 price target on the medical equipment provider’s stock, up from their prior price target of $127.00.

VAR has been the topic of a number of other reports. Goldman Sachs Group upgraded shares of Varian Medical Systems from a neutral rating to a buy rating and raised their price target for the company from $107.00 to $129.00 in a report on Friday, January 4th. Citigroup lowered their price target on shares of Varian Medical Systems from $145.00 to $131.00 and set a buy rating on the stock in a report on Wednesday, January 2nd. UBS Group started coverage on shares of Varian Medical Systems in a report on Wednesday, November 28th. They issued a buy rating and a $140.00 price target on the stock. BTIG Research reaffirmed a hold rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. Finally, Zacks Investment Research raised shares of Varian Medical Systems from a hold rating to a strong-buy rating and set a $146.00 price objective for the company in a research report on Saturday, January 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $137.56.

Varian Medical Systems stock traded down $0.46 during midday trading on Friday, hitting $141.04. 624,776 shares of the company’s stock were exchanged, compared to its average volume of 661,221. Varian Medical Systems has a 12 month low of $101.42 and a 12 month high of $142.50. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.72 and a beta of 0.86.

Varian Medical Systems (NYSE:VAR) last issued its earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The business had revenue of $741.00 million for the quarter, compared to the consensus estimate of $717.83 million. During the same quarter in the previous year, the company earned $1.06 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Research analysts predict that Varian Medical Systems will post 4.73 earnings per share for the current year.

In related news, insider Kolleen T. Kennedy sold 543 shares of Varian Medical Systems stock in a transaction on Monday, April 8th. The shares were sold at an average price of $140.98, for a total value of $76,552.14. Following the sale, the insider now owns 27,441 shares of the company’s stock, valued at approximately $3,868,632.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kolleen T. Kennedy sold 699 shares of Varian Medical Systems stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $140.90, for a total transaction of $98,489.10. Following the completion of the sale, the insider now directly owns 27,441 shares in the company, valued at approximately $3,866,436.90. The disclosure for this sale can be found here. Insiders have sold a total of 93,128 shares of company stock valued at $12,729,203 over the last three months. 0.78% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC purchased a new position in shares of Varian Medical Systems during the 4th quarter worth $28,000. First Personal Financial Services raised its holdings in Varian Medical Systems by 58.8% in the 4th quarter. First Personal Financial Services now owns 351 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 130 shares during the period. Global Retirement Partners LLC raised its holdings in Varian Medical Systems by 121.9% in the 4th quarter. Global Retirement Partners LLC now owns 355 shares of the medical equipment provider’s stock valued at $40,000 after buying an additional 195 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Varian Medical Systems in the 4th quarter valued at about $49,000. Finally, Moody National Bank Trust Division purchased a new stake in Varian Medical Systems in the 4th quarter valued at about $49,000. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

Varian Medical Systems Company Profile

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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