Varian Medical Systems, Inc. (NYSE:VAR) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. The analysts noted that the move was a valuation call.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Varian Medical Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Aegis reissued a “hold” rating and set a $91.00 target price on shares of Varian Medical Systems in a report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Varian Medical Systems in a report on Tuesday, May 16th. They set a “neutral” rating and a $92.00 target price on the stock. Robert W. Baird reissued a “neutral” rating and set a $99.00 target price (up from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. Finally, Citigroup Inc. raised shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $97.39.

Varian Medical Systems (NYSE VAR) opened at 106.42 on Thursday. The firm has a 50-day moving average of $100.95 and a 200-day moving average of $96.54. The company has a market capitalization of $9.77 billion, a PE ratio of 35.03 and a beta of 0.58. Varian Medical Systems has a 52 week low of $75.20 and a 52 week high of $107.19.

Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.09. Varian Medical Systems had a net margin of 9.50% and a return on equity of 24.70%. The firm had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. During the same period in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts expect that Varian Medical Systems will post $3.93 earnings per share for the current fiscal year.

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In other news, insider Dow R. Wilson sold 15,059 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 81,835 shares of the company’s stock, valued at approximately $8,626,227.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kolleen T. Kennedy sold 26,092 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $105.00, for a total transaction of $2,739,660.00. Following the completion of the sale, the executive vice president now directly owns 52,692 shares in the company, valued at $5,532,660. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,542 shares of company stock worth $8,395,425. Insiders own 0.91% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Sentry Investment Management LLC lifted its position in shares of Varian Medical Systems by 5.2% during the 2nd quarter. Sentry Investment Management LLC now owns 7,700 shares of the medical equipment provider’s stock valued at $795,000 after acquiring an additional 383 shares during the period. Toronto Dominion Bank lifted its position in shares of Varian Medical Systems by 23.5% during the 2nd quarter. Toronto Dominion Bank now owns 31,158 shares of the medical equipment provider’s stock valued at $3,215,000 after acquiring an additional 5,936 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Varian Medical Systems during the 2nd quarter valued at $662,000. Public Employees Retirement System of Ohio lifted its position in shares of Varian Medical Systems by 2.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 173,969 shares of the medical equipment provider’s stock valued at $17,952,000 after acquiring an additional 4,356 shares during the period. Finally, Koch Industries Inc. lifted its position in shares of Varian Medical Systems by 57,988.4% during the 2nd quarter. Koch Industries Inc. now owns 1,327,901 shares of the medical equipment provider’s stock valued at $1,315,000 after acquiring an additional 1,325,615 shares during the period. Institutional investors own 99.64% of the company’s stock.

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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