Varian Medical Systems, Inc. (VAR) SVP John W. Kuo Sells 862 Shares

Varian Medical Systems, Inc. (NYSE:VAR) SVP John W. Kuo sold 862 shares of the company’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $105.26, for a total value of $90,734.12. Following the transaction, the senior vice president now directly owns 30,686 shares of the company’s stock, valued at $3,230,008.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE VAR traded down $5.06 during trading hours on Friday, reaching $119.37. 1,274,776 shares of the stock were exchanged, compared to its average volume of 1,056,476. The firm has a market cap of $11.21 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 3.26 and a beta of 0.64. Varian Medical Systems, Inc. has a 52 week low of $101.42 and a 52 week high of $130.29.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Tuesday, October 23rd. The medical equipment provider reported $1.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.04). Varian Medical Systems had a return on equity of 27.54% and a net margin of 5.14%. The firm had revenue of $801.60 million for the quarter, compared to the consensus estimate of $766.26 million. During the same quarter last year, the business posted $1.04 EPS. Varian Medical Systems’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that Varian Medical Systems, Inc. will post 4.69 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Varian Medical Systems by 1.6% in the 3rd quarter. Janus Henderson Group PLC now owns 3,202,759 shares of the medical equipment provider’s stock valued at $358,485,000 after purchasing an additional 50,417 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Varian Medical Systems by 3.4% during the 2nd quarter. Fiera Capital Corp now owns 2,521,717 shares of the medical equipment provider’s stock valued at $286,769,000 after acquiring an additional 83,657 shares in the last quarter. Wells Fargo & Company MN boosted its holdings 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 acquiring an additional 427,822 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Varian Medical Systems by 40.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,145,010 shares of the medical equipment provider’s stock valued at $130,211,000 after acquiring an additional 331,736 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Varian Medical Systems by 7.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 665,604 shares of the medical equipment provider’s stock valued at $74,819,000 after acquiring an additional 47,554 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

A number of research firms have recently issued reports on VAR. Citigroup raised their price objective on Varian Medical Systems from $127.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 31st. JPMorgan Chase & Co. cut their price objective on Varian Medical Systems from $110.00 to $105.00 and set an “underweight” rating for the company in a research report on Wednesday, October 24th. Zacks Investment Research cut Varian Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Royal Bank of Canada set a $115.00 price objective on Varian Medical Systems and gave the company a “hold” rating in a research report on Thursday, October 4th. Finally, Robert W. Baird began coverage on Varian Medical Systems in a research report on Friday, October 19th. They issued a “neutral” rating and a $119.00 price objective for the company. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Varian Medical Systems presently has an average rating of “Hold” and a consensus target price of $119.25.

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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 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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