Varian Medical Systems, Inc. (NYSE:VAR) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

Several other research firms have also weighed in on VAR. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Monday, May 8th. Citigroup Inc. raised Varian Medical Systems from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Aegis reissued a “hold” rating and set a $91.00 price objective on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) started coverage on Varian Medical Systems in a research note on Tuesday, May 16th. They set a “neutral” rating and a $92.00 price objective for the company. Finally, Barrington Research lowered Varian Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $94.21.

Varian Medical Systems (VAR) traded up 0.56% during mid-day trading on Monday, reaching $104.46. The company’s stock had a trading volume of 330,955 shares. The firm has a market capitalization of $9.60 billion, a P/E ratio of 33.71 and a beta of 0.62. Varian Medical Systems has a 52 week low of $75.20 and a 52 week high of $107.08. The firm’s 50 day moving average price is $103.47 and its 200 day moving average price is $91.27.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, April 26th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Varian Medical Systems had a return on equity of 24.82% and a net margin of 9.39%. The company had revenue of $655 million for the quarter, compared to analysts’ expectations of $639.26 million. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts anticipate that Varian Medical Systems will post $3.94 EPS for the current fiscal year.

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In related news, SVP John W. Kuo sold 862 shares of Varian Medical Systems stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $96.39, for a total transaction of $83,088.18. Following the sale, the senior vice president now directly owns 28,223 shares of the company’s stock, valued at $2,720,414.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kolleen T. Kennedy sold 1,088 shares of Varian Medical Systems stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $104.49, for a total value of $113,685.12. Following the sale, the executive vice president now directly owns 27,688 shares in the company, valued at $2,893,119.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,676 shares of company stock worth $14,979,214. 0.91% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. increased its stake in Varian Medical Systems by 2.3% in the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after buying an additional 25 shares during the last quarter. Parallel Advisors LLC increased its stake in Varian Medical Systems by 16.7% in the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock worth $113,000 after buying an additional 176 shares during the last quarter. Heritage Trust Co bought a new stake in Varian Medical Systems during the first quarter worth $118,000. Penserra Capital Management LLC increased its stake in Varian Medical Systems by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock worth $146,000 after buying an additional 140 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Varian Medical Systems by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,815 shares of the medical equipment provider’s stock worth $165,000 after buying an additional 55 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.

Varian Medical Systems Company Profile

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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