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

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Varian Medical Systems (NYSE:VAR) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other equities analysts also recently weighed in on VAR. Zacks Investment Research raised shares of Varian Medical Systems from a “hold” rating to a “strong-buy” rating and set a $146.00 price target on the stock in a research note on Saturday, January 26th. Barrington Research restated a “buy” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Thursday, January 24th. Royal Bank of Canada raised their price objective on shares of Varian Medical Systems to $130.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 24th. Finally, Jefferies Financial Group raised their price objective on shares of Varian Medical Systems to $145.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $130.63.

NYSE:VAR opened at $137.78 on Friday. The stock has a market capitalization of $12.33 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.61 and a beta of 0.85. Varian Medical Systems has a twelve month low of $101.42 and a twelve month high of $138.35.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, January 23rd. The medical equipment provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.01). The business had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $717.83 million. Varian Medical Systems had a return on equity of 26.18% and a net margin of 12.28%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share. As a group, research analysts anticipate that Varian Medical Systems will post 4.7 EPS for the current year.

In related news, CAO Magnus Momsen sold 2,800 shares of the firm’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $110.17, for a total transaction of $308,476.00. Following the completion of the sale, the chief accounting officer now directly owns 3,281 shares in the company, valued at $361,467.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kolleen T. Kennedy sold 19,580 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $130.48, for a total transaction of $2,554,798.40. Following the sale, the executive vice president now owns 34,798 shares of the company’s stock, valued at $4,540,443.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,087 shares of company stock valued at $6,730,198. 0.78% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. LPL Financial LLC increased its position in shares of Varian Medical Systems by 6.3% during the fourth quarter. LPL Financial LLC now owns 23,546 shares of the medical equipment provider’s stock valued at $2,668,000 after acquiring an additional 1,400 shares during the last quarter. Burney Co. increased its position in shares of Varian Medical Systems by 6.0% during the fourth quarter. Burney Co. now owns 33,780 shares of the medical equipment provider’s stock valued at $3,828,000 after acquiring an additional 1,915 shares during the last quarter. JLB & Associates Inc. increased its position in shares of Varian Medical Systems by 0.7% during the fourth quarter. JLB & Associates Inc. now owns 81,621 shares of the medical equipment provider’s stock valued at $9,248,000 after acquiring an additional 528 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Varian Medical Systems during the fourth quarter valued at about $1,219,000. Finally, Polar Capital LLP acquired a new stake in shares of Varian Medical Systems during the fourth quarter valued at about $28,824,000. Institutional investors and hedge funds own 91.66% of the company’s stock.

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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