Varian Medical Systems (VAR) Receiving Somewhat Positive News Coverage, Study Shows

News stories about Varian Medical Systems (NYSE:VAR) have trended somewhat positive on Tuesday, according to Accern Sentiment. Accern identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Varian Medical Systems earned a coverage optimism score of 0.21 on Accern’s scale. Accern also gave press coverage about the medical equipment provider an impact score of 45.4932057650292 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:

VAR has been the topic of several research reports. BidaskClub upgraded Varian Medical Systems from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. BTIG Research cut Varian Medical Systems from a “buy” rating to a “neutral” rating in a research note on Thursday, September 7th. They noted that the move was a valuation call. Aegis restated a “hold” rating and issued a $91.00 target price on shares of Varian Medical Systems in a research note on Wednesday, May 17th. Robert W. Baird restated a “hold” rating and issued a $99.00 target price on shares of Varian Medical Systems in a research note on Monday, August 28th. Finally, Zacks Investment Research cut Varian Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Varian Medical Systems has an average rating of “Hold” and an average price target of $97.39.

Varian Medical Systems (NYSE VAR) traded up 0.57% on Tuesday, hitting $107.80. The company’s stock had a trading volume of 477,112 shares. Varian Medical Systems has a 12 month low of $75.20 and a 12 month high of $107.80. The firm has a 50 day moving average of $101.04 and a 200-day moving average of $96.89. The stock has a market cap of $9.90 billion, a PE ratio of 35.48 and a beta of 0.58.

Varian Medical Systems (NYSE:VAR) last announced its quarterly earnings results on Wednesday, July 26th. The medical equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.09. The business had revenue of $662.40 million for the quarter, compared to analyst estimates of $663.86 million. Varian Medical Systems had a return on equity of 24.70% and a net margin of 9.50%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, analysts expect that Varian Medical Systems will post $3.93 earnings per share for the current fiscal year.

In other news, EVP Kolleen T. Kennedy sold 26,092 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $105.00, for a total value of $2,739,660.00. Following the transaction, the executive vice president now owns 52,692 shares in the company, valued at $5,532,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dow R. Wilson sold 15,059 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $105.41, for a total value of $1,587,369.19. Following the completion of the transaction, the insider now owns 81,835 shares in the company, valued at approximately $8,626,227.35. The disclosure for this sale can be found here. Insiders sold 78,858 shares of company stock worth $8,123,240 in the last 90 days. Corporate insiders own 0.91% of the company’s stock.

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Varian Medical Systems Company Profile

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 medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.

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

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