Varian Medical Systems Inc. (VAR) Hits New 12-Month High at $96.09
Varian Medical Systems Inc. (NYSE:VAR) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $96.09 and last traded at $96.06, with a volume of 118,867 shares trading hands. The stock had previously closed at $95.37.
A number of brokerages have commented on VAR. Zacks Investment Research lowered shares of Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Jefferies Group boosted their price target on shares of Varian Medical Systems from $95.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Morgan Stanley boosted their price target on shares of Varian Medical Systems from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Brean Capital restated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, June 23rd. Finally, BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday, June 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $89.60.
The company has a market capitalization of $9.00 billion and a P/E ratio of 24.46. The firm’s 50-day moving average is $92.17 and its 200-day moving average is $84.26.
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The business earned $789.40 million during the quarter, compared to analysts’ expectations of $779.90 million. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. Equities research analysts forecast that Varian Medical Systems Inc. will post $4.64 EPS for the current year.
In other Varian Medical Systems news, insider Dow R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $95.14, for a total transaction of $951,400.00. Following the completion of the transaction, the insider now owns 70,598 shares of the company’s stock, valued at $6,716,693.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Clarence R. Verhoef sold 9,483 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $94.88, for a total value of $899,747.04. Following the transaction, the senior vice president now directly owns 8,616 shares of the company’s stock, valued at approximately $817,486.08. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in VAR. 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 valued at $2,597,000 after buying an additional 8,762 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 valued at $16,615,000 after buying an additional 27,286 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Varian Medical Systems by 11.5% in the fourth quarter. Ameriprise Financial Inc. now owns 992,652 shares of the company’s stock valued at $80,205,000 after buying an additional 102,316 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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