Varian Medical Systems, Inc. (NYSE:VAR) insider Kolleen T. Kennedy sold 6,106 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $143.28, for a total value of $874,867.68. Following the transaction, the insider now owns 32,680 shares of the company’s stock, valued at approximately $4,682,390.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through .
Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $878.90 million during the quarter, compared to analyst estimates of $858.47 million. Varian Medical Systems had a return on equity of 24.48% and a net margin of 9.65%. Varian Medical Systems’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, equities research analysts anticipate that Varian Medical Systems, Inc. will post 5.39 EPS for the current year.
A number of analysts recently issued reports on the company. Barrington Research boosted their price target on Varian Medical Systems from $146.00 to $152.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI upgraded Varian Medical Systems from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $164.00 in a report on Thursday. UBS Group boosted their price target on Varian Medical Systems from $155.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird reiterated a “buy” rating and issued a $158.00 price target on shares of Varian Medical Systems in a report on Monday, November 18th. Finally, BTIG Research upgraded Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $149.22.
Institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC purchased a new stake in Varian Medical Systems during the second quarter worth $29,000. CSat Investment Advisory L.P. lifted its holdings in Varian Medical Systems by 75.0% during the second quarter. CSat Investment Advisory L.P. now owns 315 shares of the medical equipment provider’s stock worth $43,000 after buying an additional 135 shares during the period. Quest Capital Management Inc. ADV purchased a new stake in Varian Medical Systems during the third quarter worth $38,000. Flagship Harbor Advisors LLC lifted its holdings in Varian Medical Systems by 51.5% during the third quarter. Flagship Harbor Advisors LLC now owns 359 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 122 shares during the period. Finally, Permanens Capital L.P. lifted its holdings in Varian Medical Systems by 66.7% during the third quarter. Permanens Capital L.P. now owns 500 shares of the medical equipment provider’s stock worth $60,000 after buying an additional 200 shares during the period. Institutional investors own 88.94% of the company’s stock.
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 Proton Solutions. The Oncology Systems segment offers 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, as well as related quality assurance equipment.
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