Insider Selling: Susan L. Bostrom Sells 18,900 Shares of Varian Medical Systems Stock (VAR)
Varian Medical Systems (NYSE:VAR) Director Susan L. Bostrom unloaded 18,900 shares of Varian Medical Systems stock on the open market in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $81.50, for a total value of $1,540,350.00. Following the transaction, the director now directly owns 853 shares of the company’s stock, valued at approximately $69,520. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Varian Medical Systems (NYSE:VAR) traded down 3.75% during mid-day trading on Monday, hitting $78.26. The stock had a trading volume of 952,631 shares. Varian Medical Systems has a 52-week low of $63.10 and a 52-week high of $84.24. The stock has a 50-day moving average of $79.49 and a 200-day moving average of $75.71. The company has a market cap of $8.296 billion and a price-to-earnings ratio of 20.16.
Varian Medical Systems (NYSE:VAR) last released its earnings data on Wednesday, January 22nd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. The company had revenue of $712.00 million for the quarter, compared to the consensus estimate of $718.23 million. On average, analysts predict that Varian Medical Systems will post $4.33 earnings per share for the current fiscal year.
A number of research firms have recently commented on VAR. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Varian Medical Systems in a research note to investors on Thursday, January 23rd. They now have a $71.00 price target on the stock. Separately, analysts at Brean Capital raised their price target on shares of Varian Medical Systems from $80.00 to $95.00 in a research note to investors on Thursday, January 23rd. They now have a “buy” rating on the stock. Finally, analysts at Cantor Fitzgerald upgraded shares of Varian Medical Systems from a “hold” rating to a “buy” rating in a research note to investors on Thursday, January 23rd. They now have a $93.00 price target on the stock, up previously from $76.00. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $82.80.
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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