Varian Medical Systems (NYSE:VAR) EVP Kolleen T. Kennedy sold 699 shares of Varian Medical Systems stock in a transaction that occurred on Tuesday, April 10th. The stock was sold at an average price of $120.33, for a total value of $84,110.67. Following the completion of the transaction, the executive vice president now directly owns 27,361 shares in the company, valued at $3,292,349.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
VAR opened at $119.93 on Wednesday. The company has a market cap of $10,740.56, a PE ratio of 33.31, a PEG ratio of 3.41 and a beta of 0.82. Varian Medical Systems has a 1 year low of $87.49 and a 1 year high of $130.29.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ 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 return on equity of 27.13% and a net margin of 4.27%. Varian Medical Systems’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS. analysts predict that Varian Medical Systems will post 4.31 EPS for the current year.
A number of analysts have recently issued reports on the company. Evercore ISI assumed coverage on Varian Medical Systems in a research report on Wednesday, January 3rd. They set an “underperform” rating and a $100.00 price objective on the stock. Goldman Sachs cut Varian Medical Systems from a “neutral” rating to a “sell” rating and set a $98.00 price objective on the stock. in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on Varian Medical Systems to $115.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Citigroup boosted their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, 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 report on Thursday, January 25th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Varian Medical Systems presently has a consensus rating of “Hold” and a consensus target price of $111.80.
A number of hedge funds have recently made changes to their positions in VAR. Renaissance Technologies LLC boosted its stake in Varian Medical Systems by 438.0% in the 4th quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock valued at $82,940,000 after buying an additional 607,500 shares in the last quarter. American Century Companies Inc. boosted its stake in Varian Medical Systems by 313.9% in the 4th quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock valued at $63,160,000 after buying an additional 430,934 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Varian Medical Systems by 199.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 350,523 shares of the medical equipment provider’s stock valued at $34,958,000 after buying an additional 233,547 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Varian Medical Systems in the 4th quarter valued at $19,511,000. Finally, Schroder Investment Management Group boosted its stake in Varian Medical Systems by 291.2% in the 4th quarter. Schroder Investment Management Group now owns 159,641 shares of the medical equipment provider’s stock valued at $17,744,000 after buying an additional 118,833 shares in the last quarter. 99.17% 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 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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