Stock analysts at Evercore ISI started coverage on shares of Varian Medical Systems (NYSE:VAR) in a research report issued on Wednesday. The brokerage set an “underperform” rating and a $100.00 price target on the medical equipment provider’s stock. Evercore ISI’s target price suggests a potential downside of 9.89% from the company’s previous close.
Other equities research analysts have also issued reports about the company. BTIG Research lowered Varian Medical Systems from a “buy” rating to a “neutral” rating in a research report on Thursday, September 7th. They noted that the move was a valuation call. Citigroup raised their target price on Varian Medical Systems from $119.00 to $121.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Royal Bank of Canada set a $105.00 target price on Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, November 30th. Finally, Zacks Investment Research lowered Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $100.44.
Shares of Varian Medical Systems (NYSE:VAR) opened at $110.98 on Wednesday. The company has a market capitalization of $10,183.22, a price-to-earnings ratio of 41.26, a P/E/G ratio of 3.27 and a beta of 0.67. Varian Medical Systems has a 12-month low of $76.94 and a 12-month high of $114.09.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The company had revenue of $739.00 million during the quarter, compared to analysts’ expectations of $741.69 million. Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. analysts anticipate that Varian Medical Systems will post 4.25 EPS for the current year.
In other news, insider Dow R. Wilson sold 15,059 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $102.40, for a total transaction of $1,542,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dow R. Wilson sold 88,766 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $111.00, for a total value of $9,853,026.00. Following the transaction, the insider now owns 155,542 shares of the company’s stock, valued at approximately $17,265,162. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,534 shares of company stock valued at $12,624,845. Insiders own 0.91% of the company’s stock.
Several hedge funds have recently bought and sold shares of VAR. Manchester Capital Management LLC grew its stake in shares of Varian Medical Systems by 16.5% during the 2nd quarter. Manchester Capital Management LLC now owns 1,057 shares of the medical equipment provider’s stock worth $109,000 after acquiring an additional 150 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Varian Medical Systems by 0.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,912 shares of the medical equipment provider’s stock worth $197,000 after purchasing an additional 11 shares during the period. Pacer Advisors Inc. boosted its stake in Varian Medical Systems by 8.0% in the 2nd quarter. Pacer Advisors Inc. now owns 1,960 shares of the medical equipment provider’s stock worth $202,000 after purchasing an additional 145 shares during the period. Chilton Capital Management LLC bought a new position in Varian Medical Systems in the 2nd quarter worth about $205,000. Finally, Convergence Investment Partners LLC bought a new position in Varian Medical Systems in the 3rd quarter worth about $219,000. Institutional investors own 99.10% of the company’s stock.
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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.
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