Varian Medical Systems, Inc. (NYSE:VAR) SVP Gary E. Bischoping, Jr. sold 845 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $120.24, for a total value of $101,602.80. Following the transaction, the senior vice president now owns 1,000 shares in the company, valued at $120,240. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
VAR stock opened at $120.31 on Friday. The company has a market cap of $10.27 billion, a PE ratio of 27.22, a PEG ratio of 2.99 and a beta of 0.78. Varian Medical Systems, Inc. has a one year low of $101.42 and a one year high of $130.29.
Varian Medical Systems (NYSE:VAR) last released its quarterly earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.04). The firm had revenue of $801.60 million for the quarter, compared to analysts’ expectations of $766.26 million. Varian Medical Systems had a net margin of 5.14% and a return on equity of 27.54%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 EPS. As a group, analysts forecast that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current year.
Several brokerages have recently weighed in on VAR. Zacks Investment Research upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Royal Bank of Canada set a $115.00 target price on Varian Medical Systems and gave the stock a “hold” rating in a report on Thursday, October 4th. Citigroup boosted their target price on Varian Medical Systems from $127.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 24th. Finally, Robert W. Baird initiated coverage on shares of Varian Medical Systems in a research report on Friday, October 19th. They set a “neutral” rating and a $119.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Varian Medical Systems has a consensus rating of “Hold” and an average price target of $119.25.
Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of Varian Medical Systems by 31.9% during the 3rd quarter. Wells Fargo & Company MN now owns 1,768,464 shares of the medical equipment provider’s stock valued at $197,943,000 after buying an additional 427,822 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Varian Medical Systems in the third quarter valued at approximately $163,000. Engineers Gate Manager LP raised its position in Varian Medical Systems by 2,601.7% in the third quarter. Engineers Gate Manager LP now owns 48,630 shares of the medical equipment provider’s stock valued at $5,443,000 after purchasing an additional 46,830 shares during the period. US Bancorp DE raised its position in Varian Medical Systems by 12.1% in the third quarter. US Bancorp DE now owns 56,789 shares of the medical equipment provider’s stock valued at $6,357,000 after purchasing an additional 6,138 shares during the period. Finally, Speece Thorson Capital Group Inc. raised its position in Varian Medical Systems by 45.3% in the third quarter. Speece Thorson Capital Group Inc. now owns 90,716 shares of the medical equipment provider’s stock valued at $10,154,000 after purchasing an additional 28,302 shares during the period. 92.93% of the stock is currently owned by hedge funds and other institutional investors.
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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