Kolleen T. Kennedy Sells 699 Shares of Varian Medical Systems (VAR) Stock

Varian Medical Systems (NYSE:VAR) EVP Kolleen T. Kennedy sold 699 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $126.47, for a total transaction of $88,402.53. Following the sale, the executive vice president now directly owns 27,361 shares of the company’s stock, valued at $3,460,345.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Varian Medical Systems stock traded down $2.83 during trading hours on Friday, reaching $117.64. The stock had a trading volume of 575,865 shares, compared to its average volume of 751,851. Varian Medical Systems has a 52 week low of $87.49 and a 52 week high of $130.29. The company has a market capitalization of $10,929.55, a PE ratio of 32.68, a P/E/G ratio of 3.47 and a beta of 0.82.

Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.06. Varian Medical Systems had a return on equity of 27.13% and a net margin of 4.27%. The business had revenue of $678.50 million for the quarter, compared to analyst estimates of $633.96 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. equities research analysts predict that Varian Medical Systems will post 4.31 EPS for the current year.

VAR has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on Varian Medical Systems from $128.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded Varian Medical Systems from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Tuesday, March 13th. ValuEngine upgraded Varian Medical Systems from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. TheStreet downgraded Varian Medical Systems from a “b+” rating to a “c” rating in a report on Monday, February 12th. Finally, BTIG Research restated a “hold” rating on shares of Varian Medical Systems in a report on Sunday, January 28th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.80.

Several hedge funds have recently modified their holdings of VAR. Renaissance Technologies LLC grew its stake in shares of Varian Medical Systems by 438.0% during the fourth quarter. Renaissance Technologies LLC now owns 746,200 shares of the medical equipment provider’s stock worth $82,940,000 after acquiring an additional 607,500 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Varian Medical Systems by 313.9% during the fourth quarter. American Century Companies Inc. now owns 568,237 shares of the medical equipment provider’s stock worth $63,160,000 after acquiring an additional 430,934 shares during the last quarter. Renaissance Group LLC purchased a new stake in shares of Varian Medical Systems during the third quarter worth about $31,822,000. Alyeska Investment Group L.P. purchased a new stake in shares of Varian Medical Systems during the third quarter worth about $24,607,000. Finally, JPMorgan Chase & Co. boosted its position in Varian Medical Systems by 199.7% in the third quarter. JPMorgan Chase & Co. now owns 350,523 shares of the medical equipment provider’s stock valued at $34,958,000 after buying an additional 233,547 shares during the last quarter. Institutional investors and hedge funds own 99.21% of the company’s stock.

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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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