Varian Medical Systems, Inc. (VAR) Earns Hold Rating from Royal Bank Of Canada

Varian Medical Systems, Inc. (NYSE:VAR)‘s stock had its “hold” rating reissued by analysts at Royal Bank Of Canada in a research report issued on Friday, September 1st. They presently have a $100.00 price objective on the medical equipment provider’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 5.95% from the stock’s previous close.

VAR has been the subject of several other research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $99.00 price objective (up previously from $89.00) on shares of Varian Medical Systems in a report on Friday, July 14th. BidaskClub downgraded shares of Varian Medical Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating on shares of Varian Medical Systems in a report on Thursday, May 11th. Finally, Citigroup Inc. raised shares of Varian Medical Systems from a “neutral” rating to a “buy” rating in a report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.39.

Varian Medical Systems (NYSE VAR) opened at 106.33 on Friday. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 35.00 and a beta of 0.58. The company’s 50-day moving average is $101.57 and its 200 day moving average is $97.37. Varian Medical Systems has a one year low of $75.20 and a one year high of $107.87.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $662.40 million during the quarter, compared to the consensus estimate of $663.86 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. 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 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Varian Medical Systems, Inc. (VAR) Earns Hold Rating from Royal Bank Of Canada” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://ledgergazette.com/2017/09/17/varian-medical-systems-inc-var-receives-hold-rating-from-royal-bank-of-canada.html.

In other news, EVP Kolleen T. Kennedy sold 26,092 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $105.00, for a total value of $2,739,660.00. Following the completion of the sale, the executive vice president now directly owns 52,692 shares of the company’s stock, valued at $5,532,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dow R. Wilson sold 15,060 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $103.37, for a total value of $1,556,752.20. Following the completion of the sale, the insider now directly owns 81,836 shares of the company’s stock, valued at $8,459,387.32. The disclosure for this sale can be found here. In the last three months, insiders sold 80,879 shares of company stock valued at $8,340,117. 0.91% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC raised its stake in shares of Varian Medical Systems by 16.5% in the second quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 150 shares in the last quarter. First Mercantile Trust Co. raised its stake in Varian Medical Systems by 2.3% during the first quarter. First Mercantile Trust Co. now owns 1,093 shares of the medical equipment provider’s stock worth $100,000 after acquiring an additional 25 shares in the last quarter. Parallel Advisors LLC raised its stake in Varian Medical Systems by 16.7% during the first quarter. Parallel Advisors LLC now owns 1,232 shares of the medical equipment provider’s stock worth $113,000 after acquiring an additional 176 shares in the last quarter. Heritage Trust Co acquired a new position in Varian Medical Systems during the first quarter worth $118,000. Finally, Penserra Capital Management LLC raised its stake in Varian Medical Systems by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,610 shares of the medical equipment provider’s stock worth $146,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 99.64% 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)

Receive News & Ratings for Varian Medical Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varian Medical Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply