Insider Selling: Robert Kluge Sells 13,871 Shares of Varian Medical Systems Stock (VAR)
Varian Medical Systems (NYSE:VAR) SVP Robert Kluge sold 13,871 shares of Varian Medical Systems stock on the open market in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.00, for a total transaction of $1,068,067.00. Following the transaction, the senior vice president now directly owns 30,121 shares of the company’s stock, valued at approximately $2,319,317. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note to investors on Monday, September 16th. They now have a $78.00 price target on the stock. Finally, analysts at Brean Capital raised their price target on shares of Varian Medical Systems from $76.00 to $80.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $75.00.
Shares of Varian Medical Systems (NYSE:VAR) traded up 2.56% during mid-day trading on Thursday, hitting $77.37. The stock had a trading volume of 822,040 shares. Varian Medical Systems has a one year low of $57.00 and a one year high of $76.69. The stock’s 50-day moving average is $73.78 and its 200-day moving average is $70.54. The company has a market cap of $8.329 billion and a P/E ratio of 18.99.
Varian Medical Systems (NYSE:VAR) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.01 by $0.02. The company had revenue of $726.20 million for the quarter, compared to the consensus estimate of $749.01 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Varian Medical Systems will post $4.03 EPS for the current fiscal year.
Varian Medical Systems, Inc is engaged in the design, manufacture, sale and service of equipment and software products for treating cancer with radiotherapy, stereotactic radiotherapy, stereotactic body radiotherapy (NYSE:VAR), stereotactic radiosurgery (SRS) and brachytherapy.
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