Varian Medical Systems, Inc. (NYSE:VAR) SVP John W. Kuo sold 862 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $105.26, for a total value of $90,734.12. Following the transaction, the senior vice president now directly owns 30,686 shares in the company, valued at approximately $3,230,008.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of NYSE VAR opened at $104.19 on Friday. Varian Medical Systems, Inc. has a one year low of $99.00 and a one year high of $130.29. The firm has a market cap of $9.95 billion, a PE ratio of 28.94, a PEG ratio of 2.80 and a beta of 0.78.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $709.10 million for the quarter, compared to analysts’ expectations of $663.19 million. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, sell-side analysts forecast that Varian Medical Systems, Inc. will post 4.45 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the company. Robert W. Baird assumed coverage on Varian Medical Systems in a research report on Friday. They set a “neutral” rating and a $119.00 price target on the stock. Royal Bank of Canada set a $115.00 price target on Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, October 4th. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Finally, JPMorgan Chase & Co. cut Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 price target 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 assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $117.63.
A number of institutional investors and hedge funds have recently modified their holdings of VAR. Advisors Asset Management Inc. lifted its holdings in Varian Medical Systems by 6,258.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 529,609 shares of the medical equipment provider’s stock worth $1,316,000 after purchasing an additional 521,280 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Varian Medical Systems by 40.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,145,010 shares of the medical equipment provider’s stock worth $130,211,000 after purchasing an additional 331,736 shares in the last quarter. Mackay Shields LLC lifted its holdings in Varian Medical Systems by 1,045.4% during the 2nd quarter. Mackay Shields LLC now owns 331,080 shares of the medical equipment provider’s stock worth $37,651,000 after purchasing an additional 302,175 shares in the last quarter. Millennium Management LLC lifted its holdings in Varian Medical Systems by 842.3% during the 1st quarter. Millennium Management LLC now owns 256,392 shares of the medical equipment provider’s stock worth $31,446,000 after purchasing an additional 229,184 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Varian Medical Systems during the 2nd quarter worth about $24,136,000. 92.98% of the stock is currently owned by institutional investors and hedge funds.
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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