Varian Medical Systems, Inc. (VAR) CAO Sells $11,021.00 in Stock

Varian Medical Systems, Inc. (NYSE:VAR) CAO Magnus Momsen sold 100 shares of the business’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $110.21, for a total transaction of $11,021.00. Following the completion of the sale, the chief accounting officer now owns 724 shares of the company’s stock, valued at $79,792.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Magnus Momsen also recently made the following trade(s):

  • On Tuesday, September 4th, Magnus Momsen sold 2,800 shares of Varian Medical Systems stock. The stock was sold at an average price of $111.68, for a total transaction of $312,704.00.

NYSE:VAR opened at $108.06 on Monday. The firm has a market cap of $10.25 billion, a P/E ratio of 30.02, a P/E/G ratio of 3.15 and a beta of 0.78. Varian Medical Systems, Inc. has a one year low of $99.00 and a one year high of $130.29.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.05. The firm had revenue of $709.10 million for the quarter, compared to analyst estimates of $663.19 million. Varian Medical Systems had a net margin of 4.07% and a return on equity of 27.51%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.04 EPS. Equities analysts predict that Varian Medical Systems, Inc. will post 4.45 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of VAR. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Varian Medical Systems by 132.9% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 28,035 shares of the medical equipment provider’s stock worth $3,438,000 after purchasing an additional 16,000 shares during the last quarter. BB&T Securities LLC grew its holdings in shares of Varian Medical Systems by 104.3% in the 1st quarter. BB&T Securities LLC now owns 21,477 shares of the medical equipment provider’s stock worth $2,634,000 after purchasing an additional 10,963 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Varian Medical Systems by 5.7% in the 1st quarter. Baird Financial Group Inc. now owns 8,006 shares of the medical equipment provider’s stock worth $981,000 after purchasing an additional 430 shares during the last quarter. Rampart Investment Management Company LLC grew its holdings in shares of Varian Medical Systems by 226.0% in the 1st quarter. Rampart Investment Management Company LLC now owns 3,720 shares of the medical equipment provider’s stock worth $456,000 after purchasing an additional 2,579 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Varian Medical Systems in the 1st quarter worth about $2,682,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on VAR shares. Zacks Investment Research cut shares of Varian Medical Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Royal Bank of Canada set a $115.00 target price on shares of Varian Medical Systems and gave the company a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of Varian Medical Systems from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research note on Thursday, June 28th. Four analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $117.43.

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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