Varian Medical Systems, Inc. (NYSE:VAR) Director Timothy E. Guertin sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $110.84, for a total value of $1,108,400.00. Following the completion of the sale, the director now owns 4,113 shares of the company’s stock, valued at approximately $455,884.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE VAR opened at $106.55 on Friday. Varian Medical Systems, Inc. has a 12 month low of $98.34 and a 12 month high of $130.29. The firm has a market cap of $9.98 billion, a PE ratio of 29.60, a P/E/G ratio of 3.06 and a beta of 0.79.

Varian Medical Systems (NYSE:VAR) last announced its earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. Varian Medical Systems had a return on equity of 27.51% and a net margin of 4.07%. The business had revenue of $709.10 million during the quarter, compared to the consensus estimate of $663.19 million. During the same period in the prior year, the business posted $1.04 earnings per share. Varian Medical Systems’s revenue was up 12.1% compared to the same quarter last year. sell-side analysts anticipate that Varian Medical Systems, Inc. will post 4.46 EPS for the current year.

VAR has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a report on Thursday, June 28th. Zacks Investment Research downgraded Varian Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $117.43.

Several hedge funds and other institutional investors have recently made changes to their positions in VAR. Advisors Asset Management Inc. lifted its holdings in shares of Varian Medical Systems by 6,258.6% during the second quarter. Advisors Asset Management Inc. now owns 529,609 shares of the medical equipment provider’s stock valued at $1,316,000 after purchasing an additional 521,280 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Varian Medical Systems by 77.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 813,274 shares of the medical equipment provider’s stock valued at $99,749,000 after buying an additional 353,938 shares during the period. Mackay Shields LLC raised its position in Varian Medical Systems by 1,045.4% during the second quarter. Mackay Shields LLC now owns 331,080 shares of the medical equipment provider’s stock valued at $37,651,000 after buying an additional 302,175 shares during the period. Millennium Management LLC raised its position in Varian Medical Systems by 842.3% during the first quarter. Millennium Management LLC now owns 256,392 shares of the medical equipment provider’s stock valued at $31,446,000 after buying an additional 229,184 shares during the period. Finally, Marshall Wace LLP acquired a new position in Varian Medical Systems during the second quarter valued at $24,136,000. 92.99% of the stock is owned by institutional investors and hedge funds.

Varian Medical Systems Company Profile

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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