TheStreet downgraded shares of Varian Medical Systems (NYSE:VAR) from a b+ rating to a c rating in a research report sent to investors on Monday.

Several other analysts have also issued reports on the company. Zacks Investment Research upgraded Varian Medical Systems from a sell rating to a hold rating in a research note on Monday, January 29th. BTIG Research restated a hold rating on shares of Varian Medical Systems in a research note on Sunday, January 28th. JPMorgan Chase & Co. upped their price objective on Varian Medical Systems from $88.00 to $105.00 and gave the company a neutral rating in a research note on Thursday, January 25th. Barrington Research upgraded Varian Medical Systems from a market perform rating to an outperform rating and set a $130.00 price objective on the stock in a research note on Thursday, January 25th. Finally, Citigroup upped their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the company a buy rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $108.44.

Shares of Varian Medical Systems (NYSE VAR) opened at $116.24 on Monday. The stock has a market capitalization of $10,654.74, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 3.39 and a beta of 0.81. Varian Medical Systems has a 52 week low of $79.86 and a 52 week high of $130.29.

Varian Medical Systems (NYSE:VAR) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.06. The firm had revenue of $678.50 million for the quarter, compared to analyst estimates of $633.96 million. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. equities analysts forecast that Varian Medical Systems will post 4.31 earnings per share for the current fiscal year.

In related news, EVP Kolleen T. Kennedy sold 2,018 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $111.97, for a total transaction of $225,955.46. Following the sale, the executive vice president now owns 27,749 shares of the company’s stock, valued at $3,107,055.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark R. Laret sold 2,161 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $126.97, for a total value of $274,382.17. The disclosure for this sale can be found here. Insiders sold 146,211 shares of company stock worth $16,683,318 in the last ninety days. 0.78% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. First Eagle Investment Management LLC grew its position in Varian Medical Systems by 2.1% during the third quarter. First Eagle Investment Management LLC now owns 4,778,741 shares of the medical equipment provider’s stock worth $478,161,000 after buying an additional 99,270 shares in the last quarter. APG Asset Management N.V. grew its position in Varian Medical Systems by 6.7% during the fourth quarter. APG Asset Management N.V. now owns 1,780,901 shares of the medical equipment provider’s stock worth $164,846,000 after buying an additional 111,482 shares in the last quarter. Wells Fargo & Company MN grew its position in Varian Medical Systems by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,205,836 shares of the medical equipment provider’s stock worth $134,029,000 after buying an additional 83,772 shares in the last quarter. Geode Capital Management LLC grew its position in Varian Medical Systems by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,186,042 shares of the medical equipment provider’s stock worth $131,599,000 after buying an additional 47,590 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Varian Medical Systems by 15.9% during the third quarter. Bank of New York Mellon Corp now owns 1,134,054 shares of the medical equipment provider’s stock worth $113,474,000 after buying an additional 155,954 shares in the last quarter. 99.19% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Varian Medical Systems (NYSE:VAR)

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