Varian Medical Systems Inc. (VAR) Sets New 1-Year High at $95.47
Varian Medical Systems Inc. (NYSE:VAR)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $95.47 and last traded at $94.96, with a volume of 137,390 shares. The stock had previously closed at $95.25.
Several brokerages have issued reports on VAR. Zacks Investment Research lowered Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Jefferies Group reaffirmed a “buy” rating and set a $95.00 price objective on shares of Varian Medical Systems in a report on Thursday, April 28th. Morgan Stanley reaffirmed a “sell” rating on shares of Varian Medical Systems in a report on Tuesday, May 24th. Brean Capital raised their price objective on Varian Medical Systems from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Varian Medical Systems in a report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Varian Medical Systems presently has an average rating of “Hold” and an average price target of $89.60.
The firm has a 50 day moving average of $87.04 and a 200 day moving average of $82.20. The firm has a market capitalization of $9.01 billion and a price-to-earnings ratio of 24.09.
Varian Medical Systems (NYSE:VAR) last posted its earnings results on Wednesday, July 27th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.05. The business had revenue of $789.40 million for the quarter, compared to analyst estimates of $779.90 million. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. Analysts expect that Varian Medical Systems Inc. will post $4.65 EPS for the current fiscal year.
In other Varian Medical Systems news, CEO Dow R. Wilson sold 10,000 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $78.27, for a total value of $782,700.00. Following the transaction, the chief executive officer now owns 70,598 shares in the company, valued at approximately $5,525,705.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elisha W. Finney sold 25,334 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $94.90, for a total transaction of $2,404,196.60. Following the completion of the transaction, the chief financial officer now owns 7,195 shares in the company, valued at approximately $682,805.50. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of VAR. Wells Fargo & Company MN raised its position in shares of Varian Medical Systems by 118.7% in the fourth quarter. Wells Fargo & Company MN now owns 254,634 shares of the company’s stock worth $20,575,000 after buying an additional 138,179 shares in the last quarter. Ashburton Jersey Ltd purchased a new position in shares of Varian Medical Systems during the fourth quarter worth approximately $3,219,000. Morningstar Investment Services LLC raised its position in shares of Varian Medical Systems by 46.2% in the fourth quarter. Morningstar Investment Services LLC now owns 117,531 shares of the company’s stock worth $9,497,000 after buying an additional 37,127 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Varian Medical Systems by 15.3% in the fourth quarter. BlackRock Advisors LLC now owns 205,640 shares of the company’s stock worth $16,615,000 after buying an additional 27,286 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Varian Medical Systems by 37.5% in the fourth quarter. KBC Group NV now owns 32,135 shares of the company’s stock worth $2,597,000 after buying an additional 8,762 shares in the last quarter.
Varian Medical Systems Inc is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The Company is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection.
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