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.
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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