Insider Selling: Varian Medical Systems Director Unloads 5,000 Shares of Stock (VAR)
Varian Medical Systems (NYSE:VAR) Director Venkatraman Thyagarajan unloaded 5,000 shares of Varian Medical Systems stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $84.25, for a total value of $421,250.00. Following the sale, the director now directly owns 4,742 shares in the company, valued at approximately $399,514. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Varian Medical Systems (NYSE:VAR) opened at 84.51 on Friday. Varian Medical Systems has a 52-week low of $70.10 and a 52-week high of $87.85. The stock’s 50-day moving average is $84.29 and its 200-day moving average is $82.79. The company has a market cap of $8.722 billion and a P/E ratio of 21.70.
Varian Medical Systems (NYSE:VAR) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by $0.01. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $767.52 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Varian Medical Systems will post $4.25 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on VAR shares. Analysts at Zacks reiterated a “neutral” rating on shares of Varian Medical Systems in a research note on Friday, July 25th. They now have a $88.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Varian Medical Systems in a research note on Thursday, July 24th. They now have a $98.00 price target on the stock, up previously from $92.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Varian Medical Systems in a research note on Thursday, July 24th. They now have a $95.00 price target on the stock, up previously from $85.00. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Varian Medical Systems has an average rating of “Hold” and a consensus target price of $87.22.
Varian Medical Systems, Inc, is a manufacturer of medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.
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