Somewhat Positive News Coverage Somewhat Unlikely to Affect Varian Medical Systems (NYSE:VAR) Stock Price

News coverage about Varian Medical Systems (NYSE:VAR) has been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Varian Medical Systems earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news coverage about the medical equipment provider an impact score of 44.8586804457513 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Here are some of the media stories that may have effected Accern Sentiment’s analysis:

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VAR traded down $2.83 on Friday, hitting $117.64. 575,865 shares of the company were exchanged, compared to its average volume of 506,532. The firm has a market capitalization of $10,998.94, a P/E ratio of 32.68, a PEG ratio of 3.50 and a beta of 0.82. Varian Medical Systems has a fifty-two week low of $87.49 and a fifty-two week high of $130.29.

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

VAR has been the subject of a number of research reports. Barrington Research raised shares of Varian Medical Systems from a “market perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Thursday, January 25th. TheStreet cut shares of Varian Medical Systems from a “b+” rating to a “c” rating in a report on Monday, February 12th. Goldman Sachs cut shares of Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 target price for the company. in a report on Thursday, January 25th. Zacks Investment Research raised shares of Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Finally, Evercore ISI initiated coverage on shares of Varian Medical Systems in a report on Wednesday, January 3rd. They issued an “underperform” rating and a $100.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $111.80.

In related news, CAO Magnus Momsen sold 1,556 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $126.47, for a total transaction of $196,787.32. Following the transaction, the chief accounting officer now owns 6,588 shares of the company’s stock, valued at $833,184.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Illingworth sold 5,651 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $122.56, for a total transaction of $692,586.56. Following the transaction, the director now directly owns 12,737 shares in the company, valued at approximately $1,561,046.72. The disclosure for this sale can be found here. Insiders have sold 90,568 shares of company stock worth $10,905,313 in the last three months. Insiders own 0.78% of the company’s stock.

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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.

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

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