Stock of The Day: Varian Medical Systems Inc (NYSE:VAR) Stock Price Gains While Sentiment Worsens

November 28, 2016 - By Peter Erickson   ·   0 Comments

Stock of The Day: Varian Medical Systems Inc (NYSE:VAR) Stock Price Gains While Sentiment  Worsens

Sentiment for Varian Medical Systems Inc (NYSE:VAR)

Varian Medical Systems Inc (NYSE:VAR) institutional sentiment decreased to 0.89 in Q2 2016. Its down -0.04, from 0.93 in 2016Q1. The ratio has dropped, as 202 active investment managers increased or started new positions, while 217 cut down and sold stakes in Varian Medical Systems Inc. The active investment managers in our partner’s database now have: 92.56 million shares, down from 95.88 million shares in 2016Q1. Also, the number of active investment managers holding Varian Medical Systems Inc in their top 10 positions decreased from 4 to 3 for a decrease of 1. Sold All: 37 Reduced: 180 Increased: 163 New Position: 39.

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. The company has a market cap of $8.66 billion. The Firm is a supplier of X-ray imaging components for medical, scientific, and industrial applications and supplies X-ray imaging products for cargo screening and industrial inspection. It has a 21.95 P/E ratio. The Firm offers tools for fighting cancer, taking X-ray images and protecting ports and borders.

The stock increased 0.57% or $0.52 on November 25, hitting $92.14. Varian Medical Systems, Inc. (NYSE:VAR) has risen 8.90% since April 25, 2016 and is uptrending. It has outperformed by 2.89% the S&P500.

Analysts await Varian Medical Systems, Inc. (NYSE:VAR) to report earnings on January, 25. They expect $1.05 EPS, up 6.06% or $0.06 from last year’s $0.99 per share. VAR’s profit will be $98.69M for 21.94 P/E if the $1.05 EPS becomes a reality. After $1.38 actual EPS reported by Varian Medical Systems, Inc. for the previous quarter, Wall Street now forecasts -23.91% negative EPS growth.

According to Zacks Investment Research, “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. It supplies tubes and digital detectors for X-ray imaging in medical, scientific, and industrial applications and also supplies X-ray imaging products for cargo screening and industrial inspection. Varian Medical Systems, Inc. is headquartered in Palo Alto, California.”

Qv Investors Inc. holds 5.1% of its portfolio in Varian Medical Systems, Inc. for 488,210 shares. Veritas Asset Management Llp owns 5.26 million shares or 4.76% of their US portfolio. Moreover, Lafleur & Godfrey Llc has 3.86% invested in the company for 158,647 shares. The Connecticut-based Westport Advisers Llc has invested 3.79% in the stock. Saratoga Research & Investment Management, a California-based fund reported 472,778 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 16 insider sales for $13.01 million net activity.

Varian Medical Systems, Inc. (NYSE:VAR) Ratings Coverage

Ratings analysis reveals 38% of Varian Medical Systems Inc.’s analysts are positive. Out of 8 Wall Street analysts rating Varian Medical Systems Inc., 3 give it “Buy”, 1 “Sell” rating, while 4 recommend “Hold”. The lowest target is $75 while the high is $99. The stock’s average target of $86.29 is -6.35% below today’s ($92.14) share price. VAR was included in 11 notes of analysts from August 27, 2015. On Thursday, November 12 the stock rating was initiated by Citigroup with “Neutral”. RBC Capital Markets initiated it with “Sector Perform” rating and $86 target price in Tuesday, December 22 report. Goldman Sachs downgraded the stock to “Sell” rating in Monday, September 28 report. The firm has “Neutral” rating by Robert W. Baird given on Tuesday, October 20. The firm earned “Neutral” rating on Wednesday, September 28 by Robert W. Baird. Brean Capital maintained Varian Medical Systems, Inc. (NYSE:VAR) on Thursday, April 28 with “Buy” rating. The stock of Varian Medical Systems, Inc. (NYSE:VAR) earned “Outperform” rating by Barrington Research on Tuesday, January 12.

VAR Company Profile

Varian Medical Systems, Inc., incorporated on January 22, 1976, makes medical devices and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy. The Firm supplies X-ray imaging components for medical, scientific, cargo screening and industrial applications. The Company’s divisions include Oncology Systems, Imaging Components and Other. The Firm offers a range of post-warranty equipment service contracts and software support contracts. The Company’s domestic service centers are in Milpitas, California; Las Vegas, Nevada, and Atlanta, Georgia. The Company’s international service centers are in France, the United Kingdom, Switzerland, Denmark, Belgium, Germany, the Netherlands, Spain and Italy, among others.

More notable recent Varian Medical Systems, Inc. (NYSE:VAR) news were published by: Forbes.com which released: “Short Interest In Varian Medical Systems Moves 15.4% Lower” on November 11, 2016, also Prnewswire.com with their article: “Varian Medical Systems Announces Upcoming Investor Events” published on October 31, 2016, Forbes.com published: “Varian Medical Systems Reaches Analyst Target Price” on July 28, 2016. More interesting news about Varian Medical Systems, Inc. (NYSE:VAR) were released by: Reuters.com and their article: “Varian Medical Systems draws well-timed option bets” published on October 20, 2016 as well as Prnewswire.com‘s news article titled: “Varian Medical Systems Announces Plan to Spin Off Imaging Components Business” with publication date: May 23, 2016.

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By Peter Erickson

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