Insider Selling: Varian Medical Systems, Inc. (NYSE:VAR) Insider Sells 1,242 Shares of Stock

Varian Medical Systems, Inc. (NYSE:VAR) insider Kolleen T. Kennedy sold 1,242 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $131.51, for a total transaction of $163,335.42. Following the transaction, the insider now owns 27,789 shares of the company’s stock, valued at approximately $3,654,531.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

NYSE VAR traded up $1.33 during trading hours on Wednesday, hitting $132.00. 324,400 shares of the company’s stock traded hands, compared to its average volume of 632,909. Varian Medical Systems, Inc. has a 52-week low of $101.42 and a 52-week high of $142.50. The stock has a market cap of $11.89 billion, a PE ratio of 29.86, a P/E/G ratio of 3.53 and a beta of 0.84.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.11). Varian Medical Systems had a net margin of 12.59% and a return on equity of 24.40%. The business had revenue of $779.40 million for the quarter, compared to analysts’ expectations of $776.28 million. During the same period in the prior year, the company posted $1.15 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Varian Medical Systems, Inc. will post 4.63 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. grew its stake in Varian Medical Systems by 2.7% during the 1st quarter. Raymond James Trust N.A. now owns 2,741 shares of the medical equipment provider’s stock valued at $388,000 after acquiring an additional 71 shares in the last quarter. Creative Planning grew its stake in shares of Varian Medical Systems by 0.8% in the 4th quarter. Creative Planning now owns 10,211 shares of the medical equipment provider’s stock valued at $1,157,000 after buying an additional 80 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Varian Medical Systems by 0.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,398 shares of the medical equipment provider’s stock valued at $1,757,000 after buying an additional 96 shares during the period. First Republic Investment Management Inc. grew its stake in shares of Varian Medical Systems by 2.0% in the 1st quarter. First Republic Investment Management Inc. now owns 5,150 shares of the medical equipment provider’s stock valued at $730,000 after buying an additional 99 shares during the period. Finally, Utah Retirement Systems grew its stake in shares of Varian Medical Systems by 0.6% in the 4th quarter. Utah Retirement Systems now owns 17,078 shares of the medical equipment provider’s stock valued at $1,935,000 after buying an additional 100 shares during the period. 91.12% of the stock is owned by institutional investors.

Several research analysts recently weighed in on VAR shares. Citigroup reduced their price target on shares of Varian Medical Systems from $174.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Zacks Investment Research downgraded shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. UBS Group upped their price target on shares of Varian Medical Systems from $150.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barrington Research upped their price target on shares of Varian Medical Systems from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Robert W. Baird upgraded shares of Varian Medical Systems from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $127.00 to $162.00 in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $143.33.

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About Varian Medical Systems

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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.

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