Goldman Sachs Group Begins Coverage on Varian Medical Systems (NYSE:VAR)

Goldman Sachs Group started coverage on shares of Varian Medical Systems (NYSE:VAR) in a research note published on Wednesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $171.00 price objective on the medical equipment provider’s stock.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Varian Medical Systems from a sell rating to a hold rating and set a $148.00 price objective for the company in a report on Monday, February 3rd. Robert W. Baird lifted their target price on shares of Varian Medical Systems from $158.00 to $166.00 and gave the company an outperform rating in a research report on Thursday, January 30th. UBS Group upped their target price on shares of Varian Medical Systems from $155.00 to $160.00 and gave the company a buy rating in a research note on Wednesday, December 4th. BTIG Research reissued a buy rating and issued a $157.00 price target on shares of Varian Medical Systems in a research report on Friday, January 24th. Finally, Barrington Research restated an outperform rating and set a $160.00 price target (up previously from $152.00) on shares of Varian Medical Systems in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $161.38.

Shares of Varian Medical Systems stock opened at $146.92 on Wednesday. The company’s fifty day simple moving average is $145.18 and its 200-day simple moving average is $126.97. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.42 and a beta of 0.95. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.05. Varian Medical Systems has a 1 year low of $103.92 and a 1 year high of $150.06.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, January 29th. The medical equipment provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.05). The company had revenue of $828.90 million during the quarter, compared to analyst estimates of $829.36 million. Varian Medical Systems had a return on equity of 24.40% and a net margin of 8.92%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. As a group, research analysts forecast that Varian Medical Systems will post 5.38 earnings per share for the current fiscal year.

In other news, insider Kolleen T. Kennedy sold 6,106 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $143.28, for a total value of $874,867.68. Following the sale, the insider now directly owns 32,680 shares in the company, valued at approximately $4,682,390.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher A. Toth sold 564 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $138.95, for a total value of $78,367.80. Following the completion of the sale, the senior vice president now owns 1,830 shares in the company, valued at $254,278.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,417 shares of company stock worth $2,634,243. Corporate insiders own 0.78% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in shares of Varian Medical Systems by 0.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 440,251 shares of the medical equipment provider’s stock valued at $52,187,000 after purchasing an additional 1,748 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Varian Medical Systems by 19.9% in the 3rd quarter. Squarepoint Ops LLC now owns 143,014 shares of the medical equipment provider’s stock worth $17,032,000 after acquiring an additional 23,750 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Varian Medical Systems in the 3rd quarter worth approximately $164,000. Stifel Financial Corp boosted its holdings in shares of Varian Medical Systems by 36.6% in the 3rd quarter. Stifel Financial Corp now owns 12,312 shares of the medical equipment provider’s stock worth $1,470,000 after acquiring an additional 3,299 shares in the last quarter. Finally, Eads & Heald Wealth Management boosted its holdings in shares of Varian Medical Systems by 1.9% in the 4th quarter. Eads & Heald Wealth Management now owns 7,465 shares of the medical equipment provider’s stock worth $1,060,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 89.16% of the company’s stock.

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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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