Varian Medical Systems Sees Unusually Large Options Volume (VAR)

Varian Medical Systems, Inc. (NYSE:VAR) was the target of some unusual options trading activity on Thursday. Stock traders bought 2,129 call options on the company. This represents an increase of approximately 1,265% compared to the typical volume of 156 call options.

A number of research firms recently commented on VAR. TheStreet cut shares of Varian Medical Systems from a “b+” rating to a “c” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research report on Sunday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Varian Medical Systems from $88.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Finally, Barrington Research upgraded shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $108.44.

Varian Medical Systems (NYSE:VAR) opened at $121.26 on Friday. The stock has a market capitalization of $10,913.12, a PE ratio of 97.01, a price-to-earnings-growth ratio of 3.47 and a beta of 0.81. Varian Medical Systems has a 1-year low of $81.55 and a 1-year high of $130.29.

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

In related news, SVP John W. Kuo sold 6,442 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $120.67, for a total value of $777,356.14. Following the completion of the sale, the senior vice president now owns 28,224 shares in the company, valued at approximately $3,405,790.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Dow R. Wilson sold 88,766 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $111.00, for a total transaction of $9,853,026.00. Following the completion of the sale, 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. In the last 90 days, insiders sold 156,166 shares of company stock valued at $17,886,310. 0.78% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. WASHINGTON TRUST Co boosted its stake in shares of Varian Medical Systems by 100.0% during the 4th quarter. WASHINGTON TRUST Co now owns 970 shares of the medical equipment provider’s stock worth $108,000 after buying an additional 485 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Varian Medical Systems by 3,418.8% during the 4th quarter. Advisory Services Network LLC now owns 1,689 shares of the medical equipment provider’s stock worth $188,000 after buying an additional 1,641 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in shares of Varian Medical Systems by 45.2% during the 4th quarter. MUFG Americas Holdings Corp now owns 1,713 shares of the medical equipment provider’s stock worth $190,000 after buying an additional 533 shares during the last quarter. Catawba Capital Management VA acquired a new position in shares of Varian Medical Systems during the 4th quarter worth about $210,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Varian Medical Systems by 27.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,968 shares of the medical equipment provider’s stock worth $218,000 after buying an additional 427 shares during the last quarter. Institutional investors own 99.19% of the company’s stock.

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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.

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