Robert W. Baird restated their hold rating on shares of Varian Medical Systems, Inc. (NYSE:VAR) in a research note published on Monday morning. The firm currently has a $99.00 price objective on the medical equipment provider’s stock.

A number of other research firms also recently issued reports on VAR. Citigroup Inc. upgraded Varian Medical Systems from a neutral rating to a buy rating in a report on Monday, May 8th. BTIG Research upgraded Varian Medical Systems from a neutral rating to a buy rating and set a $106.00 price objective for the company in a report on Monday, May 8th. Jefferies Group LLC reiterated a buy rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) initiated coverage on Varian Medical Systems in a report on Tuesday, May 16th. They set a neutral rating and a $92.00 price objective for the company. Finally, Aegis reiterated a hold rating and set a $91.00 price objective on shares of Varian Medical Systems in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $96.28.

Varian Medical Systems (NYSE VAR) opened at 103.86 on Monday. Varian Medical Systems has a one year low of $75.20 and a one year high of $107.08. The stock’s 50 day moving average is $100.97 and its 200 day moving average is $94.96. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 34.19 and a beta of 0.61.

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

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In other Varian Medical Systems news, EVP Kolleen T. Kennedy sold 1,088 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $97.91, for a total value of $106,526.08. Following the completion of the transaction, the executive vice president now directly owns 26,600 shares in the company, valued at $2,604,406. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John W. Kuo sold 863 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $101.25, for a total value of $87,378.75. Following the completion of the transaction, the senior vice president now owns 28,224 shares of the company’s stock, valued at $2,857,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,980 shares of company stock valued at $8,509,576. Corporate insiders own 0.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VAR. Vanguard Group Inc. increased its position in Varian Medical Systems by 1.7% in the second quarter. Vanguard Group Inc. now owns 9,157,677 shares of the medical equipment provider’s stock worth $944,980,000 after buying an additional 150,482 shares in the last quarter. BlackRock Inc. increased its position in shares of Varian Medical Systems by 6.6% in the second 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 increased its position in shares of Varian Medical Systems by 0.8% in the second quarter. First Eagle Investment Management LLC now owns 4,679,471 shares of the medical equipment provider’s stock valued at $482,875,000 after buying an additional 38,005 shares in the last quarter. State Street Corp increased its position in shares of Varian Medical Systems by 1.3% in the first quarter. State Street Corp now owns 4,324,762 shares of the medical equipment provider’s stock valued at $394,109,000 after buying an additional 57,090 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of Varian Medical Systems by 8.5% in the first quarter. Janus Capital Management LLC now owns 3,932,124 shares of the medical equipment provider’s stock valued at $358,332,000 after buying an additional 306,975 shares in the last quarter. Hedge funds and other institutional investors own 99.63% 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)

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