Insider Selling: Varian Medical Systems, Inc. (VAR) EVP Sells $117,818.91 in Stock

Varian Medical Systems, Inc. (NYSE:VAR) EVP Kolleen T. Kennedy sold 1,089 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $108.19, for a total transaction of $117,818.91. Following the transaction, the executive vice president now owns 27,751 shares in the company, valued at $3,002,380.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Varian Medical Systems, Inc. (NYSE VAR) opened at $109.57 on Friday. Varian Medical Systems, Inc. has a 52 week low of $76.94 and a 52 week high of $114.09. The company has a market cap of $10,015.56, a PE ratio of 40.73, a P/E/G ratio of 3.32 and a beta of 0.67.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, October 25th. The medical equipment provider reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.10). Varian Medical Systems had a net margin of 8.85% and a return on equity of 23.68%. The company had revenue of $739.00 million during the quarter, compared to analyst estimates of $741.69 million. During the same quarter last year, the company posted $1.03 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. equities research analysts expect that Varian Medical Systems, Inc. will post 4.11 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its stake in Varian Medical Systems by 27.3% in the 4th quarter. State of Alaska Department of Revenue now owns 38,644 shares of the medical equipment provider’s stock valued at $4,293,000 after buying an additional 8,280 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Varian Medical Systems by 1.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 459,336 shares of the medical equipment provider’s stock valued at $51,056,000 after buying an additional 4,786 shares during the last quarter. Pensionfund Sabic acquired a new position in Varian Medical Systems in the 4th quarter valued at about $1,556,000. Pensionfund DSM Netherlands acquired a new position in Varian Medical Systems in the 4th quarter valued at about $3,001,000. Finally, Parametric Portfolio Associates LLC grew its stake in Varian Medical Systems by 4.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 631,098 shares of the medical equipment provider’s stock valued at $63,148,000 after buying an additional 25,238 shares during the last quarter.

Several research firms have recently weighed in on VAR. Royal Bank of Canada set a $105.00 price objective on shares of Varian Medical Systems and gave the stock a “hold” rating in a research note on Thursday, November 30th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Sunday, October 29th. Evercore ISI began coverage on shares of Varian Medical Systems in a research note on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price objective on the stock. Citigroup boosted their price objective on shares of Varian Medical Systems from $119.00 to $121.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Finally, Zacks Investment Research lowered shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Varian Medical Systems has an average rating of “Hold” and an average price target of $100.44.

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About Varian Medical Systems

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.

Insider Buying and Selling by Quarter for Varian Medical Systems (NYSE:VAR)

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