Robert W. Baird assumed coverage on shares of Varian Medical Systems (NYSE:VAR) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $119.00 target price on the medical equipment provider’s stock.

Several other equities analysts also recently issued reports on VAR. Zacks Investment Research downgraded Varian Medical Systems from a buy rating to a hold rating in a research report on Saturday, June 30th. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the company a hold rating in a research report on Thursday, October 4th. Finally, JPMorgan Chase & Co. downgraded Varian Medical Systems from a neutral rating to an underweight rating and set a $105.00 target price on the stock. in a research report on Thursday, June 28th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Varian Medical Systems presently has an average rating of Hold and an average price target of $117.63.

Shares of NYSE VAR traded down $1.66 during mid-day trading on Friday, hitting $104.19. The stock had a trading volume of 876,445 shares, compared to its average volume of 632,442. Varian Medical Systems has a twelve month low of $99.00 and a twelve month high of $130.29. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 2.73 and a beta of 0.78.

Varian Medical Systems (NYSE:VAR) last released its earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The firm had revenue of $709.10 million for the quarter, compared to the consensus estimate of $663.19 million. During the same period in the prior year, the firm earned $1.04 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts predict that Varian Medical Systems will post 4.45 earnings per share for the current year.

In other Varian Medical Systems news, CAO Magnus Momsen sold 2,800 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $111.68, for a total transaction of $312,704.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John W. Kuo sold 962 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $108.84, for a total value of $104,704.08. Following the sale, the senior vice president now directly owns 30,848 shares in the company, valued at $3,357,496.32. The disclosure for this sale can be found here. Insiders have sold a total of 16,051 shares of company stock worth $1,774,728 over the last ninety days. 0.78% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. acquired a new stake in Varian Medical Systems during the 2nd quarter worth about $205,000. BNP Paribas Arbitrage SA grew its position in Varian Medical Systems by 81.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 64,102 shares of the medical equipment provider’s stock worth $7,290,000 after purchasing an additional 28,680 shares during the period. Motley Fool Wealth Management LLC grew its position in Varian Medical Systems by 3.3% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 48,918 shares of the medical equipment provider’s stock worth $5,563,000 after purchasing an additional 1,548 shares during the period. OppenheimerFunds Inc. grew its position in Varian Medical Systems by 87.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,456 shares of the medical equipment provider’s stock worth $507,000 after purchasing an additional 2,085 shares during the period. Finally, Sei Investments Co. grew its position in Varian Medical Systems by 66.8% during the 2nd quarter. Sei Investments Co. now owns 35,014 shares of the medical equipment provider’s stock worth $3,982,000 after purchasing an additional 14,024 shares during the period. 92.98% of the stock is currently owned by institutional investors.

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 Varian Particle Therapy. The Oncology Systems segment provides 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.

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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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