Varian Medical Systems, Inc. (NYSE:VAR) Insider Kolleen T. Kennedy Sells 1,242 Shares

Varian Medical Systems, Inc. (NYSE:VAR) insider Kolleen T. Kennedy sold 1,242 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $146.71, for a total value of $182,213.82. Following the completion of the sale, the insider now owns 27,661 shares of the company’s stock, valued at approximately $4,058,145.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:VAR traded up $0.33 during trading hours on Friday, hitting $146.62. 288,076 shares of the company’s stock traded hands, compared to its average volume of 560,779. The firm has a market cap of $13.27 billion, a P/E ratio of 31.67, a P/E/G ratio of 3.39 and a beta of 0.89. Varian Medical Systems, Inc. has a twelve month low of $103.92 and a twelve month high of $147.36. The stock’s fifty day moving average price is $140.15 and its two-hundred day moving average price is $125.03.

Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $878.90 million for 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 period in the previous year, the firm earned $1.16 earnings per share. As a group, research analysts predict that Varian Medical Systems, Inc. will post 5.39 EPS for the current year.

Several analysts have recently weighed in on the company. UBS Group upped their price objective 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 reaffirmed a “buy” rating and set a $158.00 target price on shares of Varian Medical Systems in a report on Monday, November 18th. Barrington Research upped their target price on Varian Medical Systems from $146.00 to $152.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research raised Varian Medical Systems from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Monday, October 14th. Finally, Evercore ISI raised Varian Medical Systems from an “in-line” rating to an “outperform” rating and upped their target price for the company from $130.00 to $164.00 in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $149.22.

A number of large investors have recently bought and sold shares of the stock. Boston Trust Walden Corp raised its position in Varian Medical Systems by 2.9% during the fourth quarter. Boston Trust Walden Corp now owns 468,371 shares of the medical equipment provider’s stock valued at $66,513,000 after buying an additional 13,029 shares during the period. Cypress Capital Group acquired a new position in Varian Medical Systems during the fourth quarter valued at $233,000. FTB Advisors Inc. raised its position in Varian Medical Systems by 52.5% during the fourth quarter. FTB Advisors Inc. now owns 482 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 166 shares during the period. Rockland Trust Co. raised its position in Varian Medical Systems by 7.3% during the fourth quarter. Rockland Trust Co. now owns 6,430 shares of the medical equipment provider’s stock valued at $913,000 after buying an additional 440 shares during the period. Finally, Evoke Wealth LLC acquired a new position in Varian Medical Systems during the third quarter valued at $164,000. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for Varian Medical Systems (NYSE:VAR)

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